The future of DeFi on Ethereum is now By Cointelegraph


Blockchain and Booze: The future of DeFi on Ethereum is now

On the latest episode of Blockchain and Booze, Draper Gorem Holm’s Adam Levy sits down with three leaders in the blockchain industry to talk about layer-two solutions on the network. Levy is joined by Stani Kulechov of Aave, Jack O’Holleran of Skale and Antonio Juliano of dYdX. What began as a discussion on high fees quickly transitioned into a greater commentary on the potential power of decentralized finance.

The Ethereum conundrum

For those not familiar with the Ethereum situation, it’s becoming prohibitively expensive to send transitions on-chain. At the time of publication, the average cost of sending an Ethereum transaction is just under $20. Complex smart contracts like those found in decentralized finance protocols can easily run over $100 as the network becomes increasingly congested. Layer-two solutions are protocol that can lighten the load and offer much faster, less expensive transactions.

Layer two, explained

Beyond DeFi