Why aelf will be the DeFi leader among major public chains

This article was first published on Stories by ælf on Medium
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aelf has in fact been making its own plans and strategies for DeFi quite early on.

aelf has clearly sensed the status quo and future of DeFi. Based on this, aelf is striving to be the most thorough innovator and leader in the industry:

In the first stage, DeFi mainly focuses on lending.

In the second stage, DeFi mainly focuses on automated market makers and liquidity mining.

And the most critical and important move is the third stage that will usher in an era of DeFi and CrossFi dominated by large public chain projects who develop DeFi functionalities benefiting all blockchain ecosystems and enabling value transfer between aelf and other blockchains.

People have discovered that these existing Ethereum-based DeFi projects have no lasting potential, because of the limitations of Ethereum’s protocol. Anyone who uses Ethereum to transfer assets or execute contracts knows that transaction fee on Ethereum is really high (in comparison, TRON is much cheaper, aelf is almost 0), and confirmation time of three minutes requires at least 2 USD as gas, which is a big problem for small transactions, especially when you find that you have to deposit the same amount of stablecoins in the trading pool. As for me, I don’t like transferring USDT based on ERC20 back and forth between wallets; in addition, on Ethereum, all transactions are verified by all nodes, and with thousands of production nodes, the time that transactions are broadcasted to each node is much longer. If there are high-frequency transactions and computation on Ethereum, for example, Cryptokitty occupied about 11% of the resources at the peak, then the performance of the entire Ethereum will become worse, and more and more transactions have to queue up for execution, forcing transaction senders to continuously increase gas fees hoping that their transactions can be processed first. ...

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