#OnChainLendingSurge
The Rise of Decentralised Finance (DeFi): On-Chain Lending
Borrowing and lending that takes place directly on blockchain networks is referred to as "on-chain lending." This method is different from regular banks in that
Trustless : Runs without middlemen using smart contracts.
Transparent: All transactions are documented on a publicly accessible ledger.
Accessible to everybody with an internet connection, inclusive.
Fast transactions are guaranteed, fees are decreased, and middlemen are no longer necessary. The Surge: Why?
There are a number of reasons why on-chain lending has grown:
1. High Yield Profits
Competitive interest rates are available to lenders, frequently surpassing those of conventional savings accounts. Flexible terms and quick loan approvals are advantageous to borrowers.
2. Security & Transparency Blockchain technology assures that all transactions are auditable and unchangeable, which increases user confidence.
3. International Accessibility.
People are empowered by DeFi platforms.
