This new financial frontier brings a more secure financial future.
- Security is DeFi's largest benefit over traditional finance.
- You are more responsible.
While reports of hacks, crime, or incompetence make the news, enhanced security is actually the main advantage decentralized finance has over traditional finance. Bitcoin, Ethereum, and many other blockchain enterprises are inherently more secure because of the structure of the technology.
Long gone are the days of a bank with a money vault. Decentralized finance represents networks dispersed all over the world. No single person or company or country controls the activity. Thus, a hacker can't just "break in" to the network. Also, every transaction is open to see and verifiable. Thus, no one can "cook the books."
These fundamental strengths have made Bitcoin and blockchain household terms. Soon, decentralized finance will be as well.
Freedom from traditional banking increases the rewards for us. But this also means we are now in control and more responsible for our holdings. As such, the vast majority of cases of loss happen because of user error or negligence.
You are in control. So, you need to retain your passwords and you need to be wary of scammers (as you do with scammers anywhere online.)
Simple precautions prevent almost all events of loss. So, if you do your part, you can enjoy enhanced security and freedom and efficiency and prosperity by participating in this world of decentralized finance.
We're doing our part.
Access to the smart contracts and user info is secured by our internal tests, external audits, ample simulations, and by inviting hackers to test our platform. See more about security protocols below.