A Brief History
Quite a large number of us knows or have heard of Bitcoin, as well as Ethereum, but a few understands the dynamics behind the Decentralized Finance Ecosystem.
Satoshi Nakamoto founded the bitcoin some years ago, 2009 to be precise, and as at 2009 bitcoin was just $0, but the following year 2010, bitcoin was traded between $0.00008 to $ 0.08, then as at April 2011 it a bitcoin grew to $1 bill, at July 2011 it rose to $31 for a bitcoin, but later dropped to $2 at December 2011, so many began to loose hope, but rose up again to $13 at 2012 December.
And as at March 2019, bitcoin was at $3717, and currently in 2021 as I type this, a bitcoin is worth $57,192, and looking at the history of its existence, one cannot help but to say "wow".
The Bitcoin from existence has been a very easy way to transfer funds around the world without stress, I would say the birth of bitcoin marks the both of the Decentralized Finance Ecosystem.
No matter how hard you try, when you save your money in a Centralised finance system, it can never yeild such interest level or even close to half the progress the Crypto-currency world achieves.
And the journey so far in the blockchain world has been amazing, and I'm sure the DEFI system has come to stay Permanently in the Financial industry, and will surely be the future of the ecosystem
WHAT IS DEFI
DEFI is a short form for Decentralized Finance, and today, I will be talking about the Decentralized Finance Ecosystem.
Conceptually, the word "Finance, refers simply to the financial industry generally, while the word "Centralised" as well as " Decentralized simply describe how they function.
The DEFI system is build on the blockchain, and on the platform of the ERC-20 token in order words it is Ethereum based, the Ethereum is is much relevance in the Decentralized Finance Ecosystem, due to its kind of programming language, which enables lots of programmers to be able to build more dApps and new cryptocurrencies, due to its extremely high level programming language, thereby making each product, not to just depend on its on but also as a stepping stone or a building block to creating more sophisticated dApps and services.
Knowing that the DEFI depicts the term "Decentralized Finance" and is used to describe the movement towards an efficient, fast, low cost and a global, trustworthy and transparent global financial system.
The DEFI system, comprises of 5 major Ecosystem which are
Money markets
Stable coins
Exchanges
Insurance
Synthetics.
The main Tradition of the DEFI Ecosystem is to achieve interoperability, which makes each product exist not just as an individual service or product, but as a building block developers can leverage for other projects.
And this in turn gives rise to a limitless creation and expansion of a whole new global financial empire.
Argent Wallet
Argent is a fine example of a Decentralized Finance ecosystem wallet, that is both simple and a safe crypto wallet, which give a user the opportunity to earn interest and invest in just a tap, as well as borrow, store and send.
How to set up an Argent account
Setting up your Argent wallet is quite easy, unlike so many other wallet.
All that's is required is
1
Download the Argent wallet app through Google Playstore or Applestore.
2
Click on create new wallet, then simply follow the given steps
3
Ensure you save the given keys or Passphrases, which you'd need each time to gain access to your account.
Thanks for being a part of my class and for participating in this week's assignment. I hope you learned from the class as the aim of the school is to teach and allow people to learn alongside
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merci beaucoup professeur @gbenga
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