In the last few years, Decentralized Finance (DeFi) has been expanding all around the world. Decentralization has helped financial products to become more transparent and efficient, and this is just a starting trend.
There are different companies developing solutions that are helping the whole market to move forward with innovative solutions.
Two of these projects include RIF and RSK. The RSK Infrastructure Network (RIF) aims to enable Decentralized Sharing Economies to grow and flourish all over the world using RSK?s tech stack. RSK is a sidechain on top of Bitcoin that enables developers to create, deploy and import smart contracts.
RIF and RSK Contribution to DeFi
Bitcoin and Decentralized Finance have many things in common. Both of them have been helping the financial world to become much more decentralized, giving innovative solutions to users to deal with their financial needs. However, the market is still far from reaching the masses, which is one of the main challenges the whole industry is currently facing.
With RIF, it?s possible to make the whole space more interoperable and efficient. This is certainly positive considering that one of the main challenges affecting the whole cryptocurrency market is related to the gap there is between adoption and blockchain products offered by companies.
RIF wants to solve this issue by offering the most secure and scalable smart contract platform for developers and firms working in the space. Some of its products and services include RIF Lumino Payments, a storage solution and the RIF Name Service, also known as RNS.
While sharing economies have been developed, financed and built by large companies, blockchain technology would provide transparency and decentralization to the whole space. With Decentralized Sharing Economies individuals would be able to interact through smart contracts and share their information, value and services without centralization or middle-man fees.
With RIF and RSK, the DeFi market becomes more connected to users and individuals that need fast, decentralized and scalable solutions. By using RIF’s Lumino Network it is possible to reduce costs, make faster transactions and perform cross-token payments.
Stablecoins, DeFi and Tokens
Stablecoins also became a very important part of the whole cryptocurrency market and space. By using these stable cryptocurrencies, it is possible to hedge against the volatility in the industry.
RSK has also contributed to the DeFi ecosystem with Money On Chain, a Bitcoin-collateralized stablecoin. The MOC proposal uses a trustless, decentralized two-token system.
The undesirable volatility of Bitcoin will be stripped into two separate currencies and a derivative financial instrument as described on this DeFi on Bitcoin post.
