DeFiChain coin (DFI) has a blockchain platform and is committed to introducing all DeFi functions into the Bitcoin ecosystem. The network operates on the proof of stake/ proof of work consensus mechanism, and further improves the security of Bitcoin by pegging itself to the Bitcoin blockchain (through Merkle root) every few blocks. Since it is not Turing complete, the DeFi transaction on the DeFiChain occurs quickly with little gas, and reduces the risk of smart contract failure.
Decentralized assets (or dToken) on the DeFiChain blockchain is a new and revolutionary form of crypto investment. These dTokens can be created (minted) by anyone on the DeFiChain blockchain. Just lock at least 50% of the DFI into the treasury as collateral (the rest of the treasury collateral ratio can be added using BTC, USDT and USDC of the on-chain dToken).
After the establishment of the vault, dToken can be minted and withdrawn in the form of decentralized loans, which is collateralized by cryptocurrency (mentioned in the first point). The price when minting dToken is introduced by the oracle as a reference price point (for example, TSLA oracle price is used to create dTSLA). After the dToken is minted, it can be traded 7 x 24 hours on DEX, the decentralized exchange of the transfer chain, or provide working capital for DEX to conduct liquidity mining.
In addition to the price introduced by the oracle in minting and loan repayment, another price is independent of the oracle price, which is the price of the decentralized exchange DEX. The DEX price depends on the supply and demand of dToken in each DEX pair.
dToken can also be purchased directly on the DeFiChain DEX. This method does not need to use the treasury for loans first. This applies to users who have no collateral or do not want to use the loan method and process the loan interest.
How does DeFiChain (DFI) Work?
DeFiChain uses a proof of stake (PoS) algorithm similar to the Bitcoin core original proof of work (PoW) mining algorithm.
DeFiChain is designed for investors in the cryptocurrency market. They want to make their cryptocurrency work like any other fund, so they can ensure that their investments in any market have guaranteed returns. DeFiChain is a dedicated non Turing full-function blockchain designed for the decentralized Finance (DeFi) industry. DeFi provides complete functionality for this particular part of the DLT community at the expense of other types of functionality for simplicity, transmission speed, and security.
DeFiChain will include oracle pricing to collect data from external blockchains. The oracle is used to collect data, such as the valuation of other cryptocurrencies. Oracle is an important way for the blockchain to collect accurate information from other blockchains and non cryptocurrency markets.
Join as oracle and you can earn tokens based on oracle's accuracy. The built-in Oracle function will allow the smart contract to determine the number, consensus percentage and parameters of the oracle to reward the data provided by the oracle.
Finally, the oracle must be decentralized. However, DeFiChain will attach a certain number of trusted comments, which will send comment data from trusted sources to DeFiChain.
DeFiChain aims to maintain the quality of decentralization while maintaining invariance. To this end, DeFiChain will peg its blocks to the Bitcoin blockchain every few blocks. This further increases the invariance of DeFiChain without any impact on the decentralized nature of the chain.
What is DeFiChain (DFI)?
DeFiChain is a software platform supported by a distributed computer network, which is specially used for fast transactions and is transparent and accessible to anyone and anywhere.
Specifically, DeFiChain aims to support financial services, such as loans, loans, investments, savings and all other things that commercial banks can do. The difference between DeFiChain and the banking network is that DeFiChain is decentralized.
This means that no organization can control the network, and anyone can participate in running network protocols on their own computers. Run the network protocol to power the entire network, and individuals who do so will receive DFI cryptocurrency as a payment reward.
DeFiChain (DFI) Crypto Wallet
In addition to placing DFI in the Gate.io exchange to facilitate trading, DFI can also be placed in a crypto wallet.
The mobile app of DeFiChain Wallet: light wallet, starts open financial management immediately.
DFX wallet mobile app: conduct the transaction of DeFiChain crypto assets through a simple bank transfer, and use the non-custodial DFX wallet to participate in liquidity mining and $DFI staking.
This kind of wallet provides an easy way to access the functional suite of the DeFiChain, which is most suitable for accessing the daily users and ecosystem to achieve interoperability, while not affecting the speed of funds and the security of assets.
The advanced version of the virtual wallet is more suitable for cooperating with the complex operations on the DeFiChain, such as managing main nodes and multi-signatures.
1. Transaction, liquidity mining, exchange, etc. using full-function and transfer chain wallet programs. Containing the complete node.
2. Computer wallet version for raspberry pie 4B 4GB with official Raspberry Pi OS (32-Bit).
3. Conduct transactions and other functions with DeFiChain through the command line interface. Containing the complete node.
4. The multi-signatures DeFiChain wallet adopts Electrum software technology and is suitable for financial or more use cases.
There are two schools of thought in determining the price of DeFiChain.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of DeFiChain, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of DeFiChain from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of DeFiChain on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for DeFiChain as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for DeFiChain and the cryptocurrency market as a whole.
2. What is the highest price of DeFiChain in history?
DeFiChain achieved the all-time high of €5.34 in 2021-12-06, and is currently trading at €0.46.
3. What is the lowest price of DeFiChain in history?
In 2020-07-16, DeFiChain reached the all-time low of €0.16.
4. Should I buy DeFiChain now?
It is important to remember that DeFiChain, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.