Decentralized finance
Decentralized Finance (DeFi) are decentralized finance built on the blockchain or a decentralized protocol which is a disruption to the centralized financial institution where there is always a middleman between all transactions making lack of trust a problem.
Unlike centralized finances, it is open sourced, no central server, no centralized governance and everyone has access to their wallets and funds.
Defi Ecosystem
Defi spreads out into several sectors or ecosystem this ecosystems are; Asset Management Tools, Alternative Savings Apps, Derivatives, Yield Aggregators, Decentralized exchanges, Decentralized Insurance, Asset Tokenization, Payments Solutions and Service Providers, Marketplaces, Prediction Markets, Stablecoins, Analytics, and Payment.
Asset Management and Wallet
Unlike the traditional financial custodians that requires an entity to keep and safeguard a firm's or individual's assets rather you are the custodian of your assets. In this post, I will be writing about Bitpie Wallet
BitPie Wallet
It is a decentralized wallet built on the blockchain to give users access to their funds in a wallet. Bitpie was lunched by Bither in 2015. The wallet also has a market which is easy to use and highly secured. bitpie comprises of so many functions and parts dincluding the Mobile wallet which is multichain (can save different coins on different chains including Ethereum, Bitcoin, Eos, Tron and so on), the Bitpie exchange, Intergrated browser which can be used to access other Dapps and serve as a web 3.0 wallet, and Integrated hardware wallet.
Security on Bitpie
With Bitpie, security is key since users are responsible for their wallet and their funds. To ensure users' security, Bitpie uses Password, military-graded encryption, Recovery seeds, anti-fraud system, and private keys.
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How to Download and Set up a BitPie Wallet
Download the BitPie Wallet on Google Play Store and on Apple App Store. Also there is an android version on the bitpie website.
Create a new wallet on the application.
Register with an email and create a password
Complete the verification process
Create a recovery seed. Write it down and keep it safe offline.
Your account is created successfully.
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.
I could refer to BitPie as a wallet as well as a web 3.0 gateway. Thanks for sharing about BitPie and how to register, sharing how to use its Dapp/browser and the wallet would be cool.
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Cheers to a beautiful week professor, you are doing a good job well done Sir.
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