Bitcoin, Defi and blockchain, all these are words that has gradually become a topic that appears in daily life and even news reports, from the popular fashionable new words many years ago. Controversy surrounding these two terms have never been less in the past, and are more common today. As Bitcoin and the blockchain technology it brings are about to reach the 14th anniversary and its still on an inclining path I believe it's time to clear the fog of hype and bubbles, escape the barriers of technology, and understand what they may bring to the future world.
It is safe to say that the blockchain industry has evolved over the years with the introduction of decentralized applications like Defi and NFT.
At the end of 2017 we witnessed the peak of the last round of cryptocurrency bubbles. The dazzling ICO (First Coin Offering) and the hype white paper gradually disappeared as the currency price collapsed. The price of Bitcoin had also fallen sharply from its high point, but the borderless cryptocurrency market had not disappeared. After the recuperation and diving in 2018 and 2019, the cryptocurrency system had seen much more innovative and diverse applications, especially Uniswap decentralized.
In 2020 we came to see the global economic impact, digital acceleration and monetary easing environment brought about by the COVID-19 global epidemic, cryptocurrencies had begun to regain their momentum of development, and the price of Bitcoin has continued to hit new highs. In this innovation, decentralized finance (referred to as Defi) and NFT (non-fungible tokens) are the main representatives.
Defi can be regarded as a financial activity in a decentralized world. The difference from real finance is that all assets are encrypted currency, so it is difficult to supervise. However, through the composability that can be achieved through blockchain, each creator can. There are market products, superimposed and combined with their own special services, which together create a high-risk and high-reward cryptocurrency financial forest that blooms with hundreds of trees.
The NFT part is another special application which mainly realizes digital certification through irreplaceable unique tokens, and then introduces application concepts such as art collection and copyright certification, and even combines traditional game elements or decentralized applications such as Defi for Flexible commercialization operations.
Still, whether it's the operation of Defi or NFT, there are also numerous voices of mistrustfulness for illustration, Defi is delicate to be included in supervision, venturing public fiscal stability and public investment rights, and the loopholes in its law and anonymous development platoon make vicious intrusion and deliberate deception heard from time to time. In the NFT part, due to its special small-scale nature, there's no mistrustfulness that the highly high sale price is true. Whether it's just a new trend, the sustainability of its development remains the test of time.
Eventually, no matter what type of blockchain operation, at the current stage of development, the profitable scale isn't large enough and the testing time isn't long enough, performing in long- term, stable and secure characteristics, and it can not be honored as a dependable stress- tested result. The specialized progress is also subject to the test of time.


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