In this week's Wealth Mastery Coin Review, we’ll dig into DeFiChain to discuss the following topics.
- What is DeFiChain?
- What is DeFiChain used for?
- DeFiChain DEX
- DeFi Standard Token (DST) DCT vs. DAT
- Decentralized USD (DUSD)
- What is DFI in crypto?
- Where do you buy DefiChain?
- Can I buy DeFiChain on Coinbase?
- Is DeFiChain a good investment?
What is DeFiChain?
DeFiChain is a proof of stake network specializing in wrapped tokens to build an entirely new ecosystem of decentralized products. DefiChain operates like you’d expect a Layer 1 blockchain to do in the same way that Ethereum and Solana issue assets across their network into various projects. Some essential differences separate DeFiChain from other leading non-Turing blockchains, including its ability to build on top of Bitcoin and compliance with local regulators.
DeFiChain being called this is not derivative of its actual uses. For starters, there’s no way to obtain access to the network without submitting to identity checkpoints. Everything on DeFiChain is heavily regulated and restrictive, something that has been holding the project back for some time now. This has a lot to do with DeFiChain hosting a growing list of corporate stocks wrapped into tokenized assets on the DeFiChain network. These synthetic stocks open DeFiChain up to an even bigger level of scrutiny from regulators like the SEC. DeFiChain has some optimistic and not-so-optimistic things to consider when looking at what DeFiChain is used for.