Defi trends of 2023: emerging developments in decentralized finance
Discover the latest 2023 defi trends. Explore breakthroughs and developments that shaped the landscape of decentralized finance this year. De centralized finance , more commonly called defi, has gained prominence in crypto in the last few years. It came from a need to change the way traditional financial systems worked, making them more open, unrestricted, and inclusive. Throughout 2023, despite a few hiccups, defi made several strides, introducing de centralized fintech solutions across numerous financial services. The demand surge is such that analysts project the worldwide defi market will hit $239.19 billion by 2030, a significant leap from $13.61 billion in 2022. Let us take a closer look at the trends in defi that shaped the sector in 2023. Major defi trends in 2023 Rise of layer-2 solutions Among the many trends in defi in 2023, one of the biggest was the growth of layer-2 (L2) sidechains and rollups. These protocols were developed to solve the high transaction fees...