Blockchain technology refers to the trustless, transparent, publicly accessible ledger that allows people to transfer ownership of units of value through utilization of public key encryption and proof of work methods.
The technology employs decentralized consensus to maintain the network, hence implies that it is not centrally controlled or managed by a bank, corporation or government. In fact, when the network grows and becomes increasingly decentralized then it is more secure.
Nevertheless, the Bitcoin Network stand as the first successful implementation of blockchain technology, however potential for blockchain goes beyond Bitcoin and other cryptocurrencies.
Now, blockchain has gained huge attention in various industries like financial services, charities and non profits, e-commerce and so on. Over the years, blockchain became a forefront of one of the biggest innovation on the internet known as DeFi.
DeFi called Decentralized Finance comprises of financial applications that operates appropriately through a decentralized blockchain. Noticeably, it is quite tasky to carry out different financial activities like taking loans without negotiating with centralized intermediaries such as banks.
Since Bitcoin and other cryptocurrencies do not work with that usecase, Decentralized Finance focuses on removing the middle man and allow people to engage in variety of financial actions like staking, yield farming, borrowing and lending etc.
Decentralized Finance been built on blockchain also carries many of blockchain technology characteristics which includes;
Transparency : DeFi data is made public enabling easier tracking of reserves, loan rates and transactions.
Autonomy : Since there is no existence of centralized authority, assets and money belongs to their owners only in the DeFi ecosystem.
Accessibility : Unfortunately, there are numerous unbanked persons who are at disadvantage to chase various financial opportunities because centralized institutions don't own appropriate incentive to help such people. However, DeFi operates without costly intermediaries, as such they can reach those people easily.
Most notably, DeFi has gained popularity and looks poised to continue it's momentum overtime. Several institutions and startups like BIRB are adopting the DeFi concept to enable people participate in the decentralized finance ecosystem and receive better benefits.
DETAILS ABOUT BIRB.CO
BIRB's developers aim to implement a fully decentralized platform that operates with a governance system as well offers various new unique concepts that remain relevant in the digital economy. The BIRB platform comes with a rich reward system for users channeled through robust revenue streams like BIRB game portal and BIRB lottery, wherein users are incentivized with bountiful BIRB tokens.
Furthermore, BIRB infrastructure runs on Binance Smart Chain which indicates that transactions in the framework will be fast, secure and efficient. Swap feature known as BIRB Swap is available in the ecosystem. This decentralized exchange offers an added layer of security to obscure users 's identity while operating as medium for swift swap of cryptocurrencies with expected cheap transaction fees.
Another impactful product of the ecosystem is the online BIRB NFT marketplace, which links content creators with potential buyers from across the world. The marketplace is highly organized, unbiased, transparent and efficient, wherein creators can display their creativity and obtain deserved rewards for their sold works.
BIRB token serve as the native cryptocurrency of the BIRB ecosystem. It is hyper deflationary with diverse usecases which is beneficial to holders. BIRB currency fuels the products available in the platform, as such can be used for payments across the BIRB ecosystem. Also, owners with 50 BIRB tokens and more, can vote on upcoming developments.
BIRB ecosystem is vigorously developing, wherein the impressive products available in the platform continues to boost engagement of users towards the platform. Moreover, this will help to promote adoption and acceptance of BIRB currency across the world.
Thanks for reading, please endeavor to research more about this project by using the official links below ;
Website: https://birb.co/
Telegram: https://t.me/BirbDefi
Twitter: https://twitter.com/BirbDefi
Instagram: https://www.instagram.com/birbdefi/
Writer Details,
BTT Username : Johnson Knight
BTT Profile URL : https://bitcointalk.org/index.php?action=profile;u=2326370;sa=summary
Wallet Address : 0x1093d8E136fEcA5579E836dCC6a2ceA1d8155611