KeyTango; outstanding DeFi platfrom simplifying the concept of DeFi for the benefit of all
Sure, there are a number of DeFi project in crypto space but not somany of them have the power to foster improvement of DeFi. KeyTango is a DeFi project with defined objective. No doubt decentralized finance is a revolutionary concept but some elements of it need to be improved in order for users to have the best.
Before we dive deep into what Keytango is and the innovation its brings to DeFi ecosystem, lets do brief recap on what decentralized finance means.
UNDERSTANDING WHAT A DEFI PLATFORM IS
Decentralized finance is a new financial concept powered by the blockchain technology. Decentralized finance aims to amend the anomalies of the traditional financial system and sponsor possible transition from the traditional financial system which is a centralized system to a decentralized system also known as peer-to-peer finance system powered by blockchain technology. Blockchain technology is no doubt one of the best and most beneficial innovations of the century; it is a decentralized system with no central administrator or governing body. The Ethereum blockchain is a popular platform on which most decentralized finance platforms are built. A decentralized financial system consists of a network of integrated protocols and financial instruments which may include but not limited to lending and borrowing. Recent reports have it that there are over $13 billion worth of value locked in Ethereum smart contracts, Decentralized finance is practically applicable in almost all sectors of finance, from individuals to developers, to institutions.
INTRODUCING KEYTANGO
The KeyTango project is developed as a Web3 application designed to help ease the challenges of interacting with complex UI / UX, especially new users. The solutions offered by KeyTango, users can easily make use of DeFi platform and access popular DeFi products and services effortlessless.
KeyTango presents retail investors with an all inclusive DeFi platform where they can find, study, invest and make use of DeFi service and products like farming, lending and liquidity pools.
KeyTango is a project on the decentralized Oracle platform. Oracles blockchain provide third party services that parties that enables smart contracts in the blockchain that receive data from sources other than their own ecosystem, the Oracles themselves act as a source of various data that can be entered into smart contracts, this permits access to data and real time that are not yet on- chain, which is most often the accurate asset price in the smart contract. Keytango uses Oracle platform, this DeFi protocol KeyTango is a Web3 application made for those who are struggling with complex UI / UX, which is very confusing for new users. The solutions offered by KeyTango allow you as a user to be able to use the DeFi platform easily and have access to popular DeFi products and services.
SOMECHALLENGES OF DEFI THAT SHOW THE BENEFITS OF KEYTANGO
But as lucrative and beneficial DeFi is, it is not without its inherent challenges which many emerging DeFi platforms have been working to solve. Yes, DeFi is a great concept but we cannot deny that there is no flaws exist in the world of DeFi, and that improvement of these flaws is crucial for future growth and adoption.
Most DeFi platforms are confronted with Speed and scalability are DeFi’s biggest challenges as the public blockchains underlying DeFi do not currently have the capacity to process such large volumes of data at a scalable speed.
Also, most of the DeFi platforms UI / UX are not user friendly and can be confusing especially to those that are new to the system.
SOME FEATURES OF KEYTANGO ECOSYSTEM
The design of KeyTango ecosystem makes it easy for users easily navigate and explore various DeFi products. Users can easily explore and make use of KeyTango features and products.
KeyTango give users access to tailored contents which will be very helpful in understanding the concept of decentralized finance.
CONCLUSION
Keytango is no doubt a revolutionary inclusion in the DeFi ecosystem. it is a simple and easy to use platform that will help people understand the concept of DeFi and what it offers, and as well help people to easily understand and use the features of DeFi.
Written by:
BTT User: Joyjoe85
