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META 1 Coin Report: Top DeFi Blockchains for 2021

One of the first things you notice when you venture into the DeFi sector is that there are multiple blockchain networks in use today. These networks operate as separate islands at this time. As such, it can be confusing for new investors in the market.

New investors can gain valuable insight by learning about the top DeFi blockchains currently in use. Each of the networks listed has made significant strides in terms of DeFi Dapp development as of late. Here are the top DeFi blockchains for 2021.

Ethereum

No DeFi list would be complete without the mention of Ethereum. Ethereum dominates the DeFi market and for good reasons. The network was the first to host DeFi protocols. Platforms such as the popular DEX, Uniswap, have served as a model for all following DEXs to duplicate and improve upon. Additionally, the blockchain has a huge selection of Dapps, DEXs, wallets, games, and more.

Part of the reason Ethereum is so prevalent in DeFi today is that the network pioneered the market. Remember, Ethereum introduced the world to smart contracts and more. As such, a large percentage of blockchain developers got their start on the network. These developers have mastered programming in Ethereum’s language Solidity and are well acquainted with the EVM (Ethereum Virtual Machine).

It makes sense to see the majority of DeFi platforms hosted on Ethereum since it’s the largest developer base of all blockchains. Also, Ethereum is the most widely used blockchain in terms of Dapp development. Much of this success comes from the fact that Ethereum was the first blockchain to provide a token standard to the market. The ERC-20 token standard enabled developers to create robust applications with high interoperability.

Today, Ethereum is still the top DeFi blockchain in terms of market cap. However, the market has more competition than years prior. These new blockchains seek to provide relief to many of the biggest problems faced by Ethereum users and developers. Consequently, Ethereum continues to lose market share to competitors.

Binance Smart Chain (BSC)

The Binance Smart Chain (BSC) officially entered the market on September 1, 2020. The project was designed to provide a viable alternative to the Ethereum ecosystem. As such, it launched with much hype. Specifically, the network secured a $100 million developer seed fund to support its launch and expansion.

Notably, the BSC was designed as an independent blockchain to supplement the Binance Chain. Today, Binance operates a dual chain architecture that enables the network to provide secure and cost-efficient access to the top DeFi features in the market. This decision also increased the value and usability of the network’s utility token BNB.

The BSC saw immediate success as it was launched during a time of heavy congestion on the Ethereum network. This congestion left developers and users in search of more cost-efficient alternatives. As such, the network’s user base grew sharply in a short time. According to Dappradar there were 108,000 unique active wallets in February 2021. Notably, the network also secured transaction volumes of $745 billion the same month.

There are a ton of benefits both BSC developers and users gain. For one, developers can create and operate Dapps at far less cost. The BSC features more scalability than Ethereum and lower smart contract execution fees. For example, Ethereum processes blocks of transactions every 12-13 seconds. The BSC features a 3-second blocktime that improves the network’s overall performance.

The BSC is also very flexible in terms of features and services. The blockchain was designed to support all DeFi features including farming, staking, p2p lending, cross-chain transactions, pegged stablecoins, and NFTs. Today, the network operates as the biggest competitor to Ethereum. However, the competition is heating up.

META 1

META 1 is a next-generation blockchain that operates as the backbone of the META 1 Coin DeFi ecosystem. Unlike Ethereum, META 1 was built from the start to support a vibrant DeFi community. The network includes a powerful DEX that offers peer-to-peer trading and more.

META 1 is superior to the competition in that its developers created their DeFi ecosystem upon launch. The platform includes a variety of top-notch features including an interest-paying crypto savings account. This feature is nice because these accounts can pay out 10x the amount you get from your local bank account. Specifically, your bank pays you around .25% on your deposits. META 1 can offer you over 10% on your stored crypto.

Additionally, META 1 pushes the boundaries of the DeFi sector further with the introduction of their multi-asset-backed self-appreciating stablecoin. This token was designed to eliminate volatility in the market. As such, it’s secured by a reserve that includes gold assets, along with a combination of other above-ground and in-ground assets. Additionally, Surety Bonds of equal value of gold assignments are issued to ensure the assigned assets.

Impressively, the network also introduces a no-loss smart contract that prevents token holders from selling their META 1 coins under the fair market value. It’s for these reasons, many investors consider META 1 to have the potential to one day overtake Ethereum in terms of popularity.

Developers also gain more flexibility when they build on top of META 1. The protocol is Ethereum smart contract compatible. This designation has helped the network secure solid growth in the market since its launch. Today, the META 1 ecosystem offers users a viable alternative in the market. It also serves a vital role in reducing centralization and providing Dapp developers with a more robust programmable network.

Top DeFi Blockchains for 2021

The DeFi sector is just getting started. There are more networks and features entering service daily. Each of these blockchains seeks to serve some niche market and provide a better user experience. For now, networks like META 1 offer the unique opportunity to enjoy stability, ROI potential, and top-notch security. For these reasons, it’s safe to assume that the DeFi revolution is still in its early stages.

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