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What is DeFiChain (DFI)?

DeFiChain basic info

Name:DeFiChain

Ticker:

DFIBuy now

Introduction:

What Is DeFiChain (DFI)?

DeFiChain (DFI) is a blockchain platform that strives to make the most out of the potential of DeFi within the Bitcoin (BTC) ecosystem. The platform is supported by a network of computers and is designed to ensure fast and transparent transactions. The team behind DeFiChain aims to provide innovative solutions to issues such as scalability, security, and decentralization.

Who Are the Founders of DeFiChain?

The DeFiChain Foundation is responsible for the development of the ecosystem, forging new partnerships, guiding the development of tools for partners, and overseeing DFI funds. The two key figures behind the project are Dr. Julian Hosp and U-Zyn Chua. Dr. Hosp is an influential and authoritative specialist in the crypto industry, with a large following around the world and is also the co-founder and CEO of Cake DeFi. U-Zyn Chua, on the other hand, serves as the chief technical officer and researcher at DeFiChain, as well as the chief engineer at Zynesis and a blockchain advisor to the Singapore government. It's important to note that the DeFiChain Foundation owns all DeFiChain (DFI) trademarks and domains.

How does DeFiChain Work?

DeFiChain provides a decentralized financial platform that offers speedy and transparent financial services. It is based on Bitcoin software and is linked to the Bitcoin blockchain through a Merkle root every few blocks. Transactions on DeFiChain are non-Turing complete, resulting in quick and seamless operations with reduced gas costs and minimal smart contract risks.

The platform boasts various features and products such as lending, token wrapping, pricing oracles, exchanges, asset tokenization, and dividend distribution, among others.

What Makes DeFiChain Unique?

In the world of cryptocurrency, two major blockchains stand tall - Bitcoin (BTC) and Ethereum (ETH), both of which are responsible for pioneering decentralized finance. However, they come with their own set of limitations. For instance, Bitcoin is known for its security but can only handle simple BTC transactions. On the other hand, Ethereum allows for more complex transaction processing but faces issues with scalability.

To overcome these challenges, DeFiChain (DFI) has emerged as a promising solution. It focuses on scalability, security, and fair governance, and achieves this through a few key features:

- A blockchain platform specifically designed for DeFi use cases, built on top of the secure foundation of Bitcoin.

- A hybrid consensus mechanism that combines proof of stake (PoS) and proof of work (PoW) to ensure smooth network operation.

- A suite of financial asset classes available to users in a borderless and permissionless manner.

- A high throughput for all transactions, thanks to its efficient design.

- A secure platform that is non-Turing complete, and therefore less vulnerable to certain types of attacks.

- A single chain for developers to build DeFi apps on.

- A decentralized governance system that ensures reliability and transparency.

In summary, DeFiChain is a blockchain platform that aims to make the most of the potential of decentralized finance within the Bitcoin ecosystem. Its innovative solutions to scalability, security, and decentralization make it a promising platform for the future of finance.

How Is the DeFiChain Network Secured?

DeFiChain (DFI) is considered a secure option for smart contract programming language due to its non-Turing complete nature. To further enhance its security, DeFiChain is tied to the Bitcoin (BTC) blockchain, creating cryptographic snapshots of the network state every few minutes for backup purposes.

In 2020, DeFiChain's smart contracts underwent audits by SlowMist and KnownSec, with no vulnerabilities found. Its hybrid PoW-PoS consensus mechanism also adds an extra layer of security, utilizing the strengths of both.

Current price:

$0.02632More price details

All-time high:$5.62

All-time low:$0.01041

DFI supply and tokenomics

Circulating supply:828,939,000 DFI

Total supply:1,149,750,004.01 DFI

Max supply:1,200,000,000 DFI

Market cap:$21.82M

Fully diluted market cap:$31.59M

Token allocation:

External Partners

51.00%

DeFiChain Foundation

49.00%

Tokenomics:

Uniqueness

There are two towering blockchains in the crypto industry: Bitcoin (BTC) and Ethereum (ETH), both of which have inspired the emergence of decentralized finance. However, these early innovations have their limitations: Bitcoin has a long-standing reputation for security, yet can only support basic BTC transactions. As for Ethereum, developers can create applications to perform more complex transactions, yet the network has problems with scalability.

This is where DeFiChain (DFI) comes in, aiming to tackle challenges like scalability, security and fair governance. The solutions it proposes are as follows:

Building a blockchain platform for DeFi use cases, which is based upon Bitcoin in order to ensure a high level of security.
Using a hybrid proof of stake (PoS)- proof of work (PoW) consensus mechanism for network operation.

The benefits of DeFiChain therefore include:

Offering a full suite of financial asset classes to users in a permisonless and borderless manner
Supporting a wide range of cryptoeconomic financial transactions.
Offering high throughput for all transactions.
Achieving a high level of security through its hybrid consensus mechanism and the fact that transactions are non-Turing complete.
Offering developers the ability to create DeFi apps on one chain.
Providing a reliable and decentralized governance system.

Token utility

1. DFI is used for fee payment for all transactions and smart contracts on DeFiChain.

Fee payment for decentralized exchange transactions
Fee payment for token transfers
Fees payment for DeFi activities:
- DEX fees
- XCX fees
- Lending loan interests payment
- etc.

2. Collateral for borrowing of other cryptoassets on DeFiChain.
3. 20,000 DFI is required to run a staking node for DeFiChain.
4. 1,000 DFI is required to create a DCT. This is refundable upon destruction of the DCT.
5. 10 DFI is required to submit a Community Fund Proposal. This is non-refundable.
6. 50 DFI for submitting a Vote of Confidence. Also non-refundable. Both are to be paid to the burn address 8defichainBurnAddressXXXXXXXdRQkSm

Links

Website:https://defichain.com/

Whitepaper:https://www.defichain.com/white-paper/

X:https://twitter.com/defichain

GitHub:https://github.com/DeFiCh/ain

Buy DeFiChain for $1Buy DFI now

What is the development prospect and future value of DFI?

The market value of DFI currently stands at $21.82M, and its market ranking is #915. The value of DFI is not widely recognized by the market. When the bull market comes, the market value of DFI may have great growth potential.

As a new type of currency with innovative technology and unique use cases, DFI has broad market potential and significant room for development. The distinctiveness and appeal of DFI may attract the interest of specific groups, thereby driving up its market value.

What will the price of DFI be in 2025?

Based on DFI's historical price performance prediction model, the price of DFI is projected to reach $0.05536 in 2025.

What will the price of DFI be in 2030?

In 2030, the DFI price is expected to change by -10.00%. By the end of 2030, the DFI price is projected to reach $0.06899, with a cumulative ROI of +151.64%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of DFI and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

DFI price DFI price prediction DFI news

Is DFI worth investing or holding? How to buy DFI from a crypto exchange?

If you want to buy DFI, the following information may be helpful for your investment decisions:

In the last 7 days, the price of DFI has fallen by -32.01%, leading to negative returns for most DFI investors. The market is currently pessimistic about the price trend of DFI.

It is important to note that the current price of DFI has retreated by -99.53% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether DFI is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in DFI or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of DFI, if you want to buy or sell DFI, you can consider Bitget for your trading needs. The best place to buy DFI is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in DeFiChain has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy DeFiChain. Here's a step-by-step guide on how to buy DeFiChain on Bitget.

Buy DFI now Coin buying guide

How to get DeFiChain through other methods？

Using cash to buy DeFiChain is not the only way to obtain DeFiChain. If you have the time to spare, you can get DeFiChain for free.

Learn how to earn DeFiChain for free through the Learn2Earn promotion.

Earn free DeFiChain by inviting friends to join Bitget's Assist2Earn promotion.

Receive free DeFiChain airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to DeFiChain through Bitget Convert, Bitget Swap, or spot trading.

What is DeFiChain used for and how to use DeFiChain?

The use case of DeFiChain may expand as the crypto market and the project itself develop. Currently, you can use DFI to achieve the following goals:

Arbitrage by trading DFI: Since DFI is a frequently traded cryptocurrency, the price of DFI is always fluctuating. Earn more DFI by buying low and selling high on the exchange. Bitget spot market provides a variety of DFI trading pairs to fully meet your needs.

Earn by staking DFI: You can also generate income through financial management methods such as staking DFI or lending DFI. Bitget Earn offers a variety of financial products designed to help you earn more income from your DFI.

Send or pay DFI: If you want to give DFI to your friends, a charity, or a fundraiser, or you want to pay someone with DFI, you can quickly and easily send DFI to the recipient through their payment address.

You can also go to the official website of the DeFiChain project to learn more about the use cases of DFI. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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