DeFi

The promise of decentralized finance seemed revolutionary: financial services without intermediaries, powered by transparent smart contracts on blockchain networks. However, reality has proven more sobering. Since 2020, DeFi protocols have suffered over $15 billion in losses from smart contract exploits, representing one of the most expensive learning experiences in software security history. The Scale of Smart Contract Failures DeFi’s rapid growth coincided with equally dramatic security failures. Major exploits like the $600 million Poly Network hack, the $320 million Wormhole bridge attack, and the $625 million Ronin bridge exploit demonstrate that smart contract vulnerabilities can dwarf traditional cybersecurity incidents in financial impact. ...

Decentralized Finance (DeFi) is emerging as one of the most significant innovations in the cryptocurrency space, with total value locked (TVL) surging from $1 billion to over $8 billion in just the first half of 2020. This explosive growth represents more than just speculation—it signals a fundamental reimagining of financial services. What is DeFi? DeFi refers to a movement that leverages decentralized networks to transform traditional financial products into trustless, transparent protocols that operate without intermediaries. Built primarily on Ethereum, DeFi applications use smart contracts to create permissionless financial services. ...