DeFi Demystified | An Introduction To Decentralized Finance
Today James Bachini released the first edition of “DeFi Demystified” offers a comprehensive introduction to the revolutionary financial technology.
The book is available to download for free (pdf,epub,mobi) or to read online at:
DeFi is built on top of a peer to peer network of nodes that run developers smart contract code. This provides a decentralized global computer to store and process information. The world is moving towards digital assets and DeFi Demystified explains it in-depth in simple terms that anyone can understand.
At an infrastructure level there’s a quick history lesson on the birth of Bitcoin and Ethereum which form the foundational layer for DeFi. The book moves on to discussing the token economy and emerging financial services which connect together like Lego bricks on top of this foundation. There are sections on Web3, NFT’s, stablecoins and the risks faced by DeFi users. It finishes with a forwards look at what comes next and how the sector will evolve over the coming years.
A Quote From DeFi Demystified – Ethereum | The Worlds Global Computer
“30th July 2015
A monitor on the wall counted down as last minute checks were being anxiously executed. In 35 minutes the Ethereum frontier would launch to the public. The software had been in development for two years and the entire crypto community was watching.
Ethereum was revolutionary, it expanded Bitcoin’s blockchain technology to provide a peer to peer network of interconnected computers operating as one. Developers could execute code and store information on this network which no one had full control over.
In a small crowded office in Berlin Vitalik Buterin was nervously tapping away on a laptop. He was surrounded by colleagues who supported his vision for a decentralised virtual machine. But at this moment he was alone in his thoughts, it was down to him to launch the network and change the financial world forever.”
A Quote From DeFi Demystified – NFT’s – Non-Fungible Tokens
“NFT’s are unique tokens deployed via a smart contract. Whereas a normal token is exchangeable for another just like it, a non-fungible token is a one off. NFTs are used to represent and transfer ownership of metadata often linked to digital art and collectibles.
Many market places and NFT portals provide web based applications for creators to easily mint NFT artworks without ever interacting with the underlying code. A creator may take a jpg image, upload it to Opensea or Rarible and mint an NFT.”
Author: James Bachini
Release ID: 89059904