{"id":259007,"date":"2024-02-02T09:57:11","date_gmt":"2024-02-02T09:57:11","guid":{"rendered":"https:\/\/imarticus.org\/blog\/?p=259007"},"modified":"2025-09-01T11:42:01","modified_gmt":"2025-09-01T11:42:01","slug":"transparency-and-decentralisation-with-blockchain-technology-smart-contracts-and-defi","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/transparency-and-decentralisation-with-blockchain-technology-smart-contracts-and-defi\/","title":{"rendered":"Transparency and Decentralisation with Blockchain Technology: Smart Contracts and DeFi"},"content":{"rendered":"

Transparency and decentralisation have always been two core principles of blockchain technology. This is exactly why different certifications explain these concepts in mastering fintech<\/strong><\/a> products. At its core, blockchain technology follows a fundamental principle of making the process much easier compared to its contemporaries.\u00a0<\/span><\/p>\n

It forms a chain of visible networks in compliance with its values. When put together, these networks make up no lesser than a whole financial authority. This very process is called distribution which is powered by different nodes (computers). In 2021, the blockchain market was valued at $6.6 billion and is projected to grow by <\/span>10%<\/span><\/a> by the end of 2024.<\/span><\/p>\n

Let\u2019s have a look at how DeFi or decentralised finances play a crucial role in determining blockchain\u2019s assets. You can also <\/span>learn blockchain basics<\/span> through the Advanced Certificate in Fintech offered by the ISB. While we are at it, let\u2019s examine its benefits in giving way to blockchain and popularising it on the whole.\u00a0<\/span><\/p>\n

How DeFi Became Popular<\/span><\/h2>\n

DeFi gained fast popularity as it let people carry out banking operations without the need for banks, making it the solution to a problem that had been surfacing for a long time. In many ways, people have access to hassle-free loans, and faster transactions in terms of payment. Let’s have a look at how things changed for blockchain gradually.<\/span><\/p>\n

History<\/span><\/h3>\n

2009<\/b>: Although blockchain, the system behind DeFi, is credited for its launch in 2009 with the invention of Bitcoin, DeFi is the latest term. In recent times, the launch of Ethereum has popularised the concept of decentralised apps.\u00a0<\/span><\/p>\n

2017<\/b>: It wasn’t before 2017 that decentralised exchanges began using the term widely. MakerDAO, the popular decentralised exchange opened its coin offerings in 2017 and made it into the public domain. Although it suffered a malicious attack in 2017, Ethereum survived and is still available for purchase to this day.<\/span><\/p>\n

Current Significance<\/span><\/h3>\n

DeFi has a huge market in this current day and age. Its improvised features make it a popular choice for individuals and alternate banking firms. Due to this popularity, it is seen as a sound investment opportunity by many.<\/span><\/p>\n

To understand more about DeFi and how it has impacted the market, <\/span>learn blockchain basics<\/span>. You can get familiarised with the concepts surrounding DeFi and the current atmosphere.<\/span><\/p>\n

Benefits of Decentralised Finance in Fintech\u00a0<\/span><\/h2>\n

Master fintech products<\/b> without going through any hassle. Opt for a Fintech certification course<\/strong><\/a> that explores these benefits with real-life examples –<\/span><\/p>\n