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It’s no secret that the Decentralized Finance (DeFi) field has exploded in 2020. The year started with DeFi, claiming approximately $700 million in total value locked (TVL). However, that number has rapidly ballooned to $16 billion, according to DeFi Pulse. Unfortunately, new investors weren’t the only ones attracted by the big numbers. A fair share of hackers has climbed aboard to profit as well.
Ever since the inception of the decentralized finance (DeFi) field, the world has seen massive improvements brought about to rival legacy financial systems. As you will likely already know, DeFi potentially holds the keys to banking the unbanked and truly democratizing finance. Nevertheless, there are still some speed bumps ahead that could slow the mainstream adoption of decentralized finance solutions. While DeFi is making significant advancements, the same old attack vectors keep haunting us. Today we’ll look at the most prominent ones.
