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Singapore, May 04, 2021 (GLOBE NEWSWIRE) -- Decentralized finance (DeFi) aims to bring unmediated access to financial services to everyone with an internet connection. Despite its notable rise in the last year, DeFi has been a victim of its own success. Ethereum birthed the most popular protocols and supports the bulk of DeFi activity. Yet, as dApps grew, their success highlighted the network's current shortcomings, i.e., high cost per transaction and limited throughput.
This opened the door for new players to build alternatives and users to move assets to other chains in search of lower costs. Beyond anything else, this underlines the power of ethereum's product-market fit. Indeed, we're rapidly moving toward a multi-chain future where a group of interconnected and niche-specific blockchains work together to support demand, and this is where Glitch Finance comes in.