Intro :
Since the existence of blockchain came to be , it had been remarkably wonderful , one would even argue it to be the eighth (8th) wonder of the world .
Since its introduction it has steadily and consistently grown at a pace that no longer arouses the doubt of it being a ponzi- scheme or a get rich quick venture.
To simply put it , Blockchain and blockchain technology has changed lives from the legendary pizza guy who literally ate with both his hands (there's a Nigerian proverb about this though , lol!!!)
To a stock broker who thought his pin was his password ... Tsk , tsk , tsk !!! Haha!!!
It is a Wonder!!
One of the said wonders of blockchain technology is "Defi" ( Decentralized Finance )
So , What is Defi ?
When asked questions like this and in order to give to be able to give a fitting answer , One must first be able to explain clearly , even to a six year old what Finance means.
Finance :
- Management of large amounts of money , especially by governments or large companies.
...to a six year old on the other hand though , It means to provide funding for stuff.
So , since it's assumed that the meaning of the word "Decentralized "* is already known , to define what " Defi" means to a kid would go like this ;
De-fi is simply having more than one source of funding for stuffs like candy while the source would from people (places) other than Daddy alone examples would be : Daddy , Mummy , siblings and etc.
To a grown up ...
It is the new wonder that allows the dealings of or investors deal with each other directly as opposed to operating from or through a centralized institution e.g Banks ..
While Decentralized : e.g RiveX.
What is RiveX?:
RiveX is a scalable layer-2 on-chain and off-chain solution on the wanchain protocol and private chains .
It combines the strength of virtue of both public chains and private chains to empower a scalable enterprise economy and decentralized finances.
RiveX has its very own API (Application Programming Interphase) and SDK (Software Development Kit) to allow the ease of integration for any enterprises and application to be integrated into the RiveX infrastructure.
RiveX main vision is to create a decentralized cloud economy that supports three major pillars which are :
1). Blockchain as a service (Baas)
2). Enterprise solution
3). Decentralized Finance (DeFi)
with a service to different clientele on segments based enterprises from public users to private users.
A quick look at how RiveX works ...
RiveX is built on Wanchain's private chain known as Lanchain which allows dApps built on RiveX to seamlessly connect to Wanchain's public chain anytime they need.
This enables cross chain protocols like Bitcoin and Ethereum as well as Wanchain's upcoming integration , EOS (scheduled to be announced soon).
This means there is an initiative offered by RiveX where you an stake your RiveX tokens and earn Wanchain's tokens.
A form of staking as a service (Saas) model , which is... putting it simply to a six year old is like buying a bag of candy and saving it in a way that let's the kid earn free candy by doing so.
Here are important RiveX links is you are interested in learning more about it ;