@xuanling11 21 September 2021 more from that month

Defi Manual: Part 6 - Defi 2.0

Defi has entered 2.0 already? Where is 1.0 anyway? This article is to explore what really is Defi and the debate between true Defi and Quasi-Defi.   **True Defi - Defi Optimist** The true Defi has a breakthrough technological advance with new ways of pure decentralization financial system without custodial, a permissionless, open forum, clear rules of smart contract, anonymous, with high interest pay off and high profits. It will make everyone rich!   **Quasi Defi - Defi pessimist** Quasi Defi is completely opposite to True Defi. It is a crime-prone financial scam that hackers easily stolen funds, scammers easily trick users, money launderers easily wash hands-off and many people losing their funds without any remediation.    **Are we living in the Quasi Defi era?** It seems the news is always recover hacking and new scams that users lost their money.    **Defi is the new Cefi?** Defi is not the new Cefi and what makes an ideal form of Defi will improve Cefi.   **4 properties of Defi** 4 properties are non-custodial, permissionless, only auditable, and composable.   ***Non-custodial***: you have full control of your funds  ***Permissionless***: anyone can interact without being censored or blocked by a third party  ***Only auditable***: anyone can audit to make the process transparent  ***Composable***: it is a Lego link block that can transfer easily from one system to another    **Defi 2.0 is about security** Securities are included cross-chain systematical security, technical security, economic security, and holistic security.   ***Cross-chain systematical security***: it protects assets across different chains to prevent hacking ***Technical security***: it becomes risks free for other attacks on its smart contract functionality ***Economic security***: it protects assets from financial manipulation ***Holistic security***: it protects assets from integrating all security together into the system   **In conclusion** Defi is on its baby step number 1 now. They just started and it needs time to nurture and become more mature before it can take off.