Why should we choose DeFi system based company HepaFinance?
HepaFinance is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
What is Centralized Finance (CeFi)?
Before DeFi was introduced, Centralized Finance was the standard for trading crypts. It handles a stronghold over the crypto currency industry. In centralized finance (CeFi), all crypto trade orders are handled through a central exchange. Funds are managed by specifically running the central exchange. It means you don’t own a private key that provides you access to your wallet.
What is Decentralized Finance? (DeFi)
No exchange is involved in the decentralized exchange. The complete process operates via automated applications that are developed on top of block chain platforms. Also, decentralized finance creates a fair and transparent financial system where anyone can participate. It allows unbanked people to access financial and banking services via block chain technology.
How is DeFi different from CeFi?
Though you would find many differences between DeFi and CeFi, the question is whether users should trust technology or people.With DeFi, users trust that the technology will perform as proposed to execute on services being offered. On the other hand, with CeFi, users trust a business’s people to manage funds and execute the business’s services.Both DeFi and CeFi deliver a wide range of crypto currency-related financial services. Let’s discuss some of the features and functionalities of both the ecosystems that differentiate them from each other.
How is DeFi Better than CeFi ?
After a comparative evaluation of CeFi vs. DeFi, let us turn the tables and look from the other perspective. DeFi does not impose any requirements for establishing user identity for accessing financial services. Rather than depending on the personal information of users, HepaFinance services provide a unique identification number to users for leveraging banking services.
As a result, users have the assurance of safety of their funds and data with all aspects of security vested in the user’s responsibility. Let us take a look at the other factors in the DeFi vs. CeFi comparison from the perspective of DeFi.
▪ Decentralized Transactions
HepaFinance is capable of providing decentralized exchange platforms that do not have any centralized systems. DEX platforms leverage smart contracts in unison with decentralized protocol solutions. The design of smart contracts also ensures better automation of fulfilling necessary orders. Users of DEX-based systems don’t have to go through the sign-up process for using the concerned service.
The connection of the user wallet to DEX service is enough to enable trade on DEX platforms. Apart from the setback of lack of support for cross-service solutions, DEX services enable trading in crypto currencies without funds to withdraw from user wallets. The transfer of funds happens only after the execution of the trade to provide a comprehensive guarantee of the safety of funds.
▪ No Need of Permissions
DeFi vs. CeFi debate also points out the permission-less nature of the former. As a result, users of HepaFinance don’t need a KYC process like in CeFi services to use DeFi services. Users can connect their wallets to HepaFinance service, followed by taking necessary actions like fund transfers, trading, and many others.
Additionally, there is no restriction on access to HepaFinance services due to its less nature. Furthermore, enterprises can leverage HepaFinance services for the welfare of the general public. At the same time, enterprises can also use DeFi services to expand their business to unreachable geographic locations.
▪ Avenues for Innovation
Another promising highlight in favor of HepaFinance in the DeFi vs. CeFi debate is the support for innovation. Many players in the DeFi ecosystem are striving for innovation at a rapid pace. The experiments on leveraging decentralization for reforming the existing finance market, along with the arrival of new financial services paint DeFi, is a positive light.On the other hand, CeFi does not foster innovation due to the centralized approach, albeit without absolving it completely. DeFi also presents a better potential for uncovering new assets with the facility of incentives to users involved in the stages of asset development and growth.
On a concluding note, you can notice the various pointers in a DeFi vs. CeFi debate. The facility of liquidity is a formidable similarity amidst all the differences between the two financial systems. Both CeFi and DeFi allocate equal price value for specific assets. However, DeFi presents a formidable advantage over CeFi in many aspects, albeit failing in the facility of cross-chain services and this is why we should choose HepaFinance.Except for such setbacks, HepaFinance is a clear and promising alternative to centralized finance with the facility of better control over financial investments. Most important of all, it has the potential of making financial services accessible to the general public.
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