DeFi has the potential to revolutionize the way the financial industry delivers, and many individuals and institutions see it as the next big innovation for a market that doesn’t rely on its successes for long. However, there will always be detractors for new ideas that haven’t yet taken hold, and many see DeFi as just another passing fad.
DeFi and Crypto are, for many people, risks that are not worth taking. There is no concrete support for many different cryptocurrencies and this is something that scares a lot of people. Critics point to this as a critical weakness of Crypto and how it appears to be a bubble that will someday burst, taking away the livelihoods of users who have chosen to invest with them.
However, these fears are far from the real market situation, and the use of crypto has grown significantly since the launch of Bitcoin almost ten years ago. More and more users are embracing crypto every day and more companies are accepting it as tangible currency in place of more traditional hard currencies. Although it is completely electronic, Crypto has proven to be very resilient. Likewise, DeFi has proven to be an effective and efficient way for many to make money on their own terms.
Nimbus is a blockchain-based platform and uses the idea of DeFi as one of its founding principles. The crypto market has seen its fair share of controversy as it has grown. There have been several brokers that have proven to be less than legitimate, and Nimbus is looking to prove that this is a safe and valuable platform for users to gain their own share of the DeFi market.
“We are now for the first time as a company beginning to move away from the absolute need for an institution of any kind in a transaction,” said Nimbus CEO Alex Lemberg. DeFi is the culmination of financial independence that many dream of. It completely removes entities such as banks from the equation and allows direct peer-to-peer contact without a third party participating, and most importantly, a portion of the profits in the form of fees.
Nimbus, being a DeFi-centric company, operates on smart contracts. Smart contracts are electronic contracts designed to start a transaction only when specific conditions are met. Their design is fully transparent and the two interacting parties are able to see the requirements and demands provided without the presence of potential loopholes to exploit.
Using smart contracts as the first layer of its security, Nimbus is committed to ensuring that every part of a transaction, whether peer to peer or via business to individual, is completely transparent and secure. Since the very nature of smart contracts is tied to a specific series of steps to be completed, this ensures that the release of funds will not take place until these steps have been completed, thus binding both parties to the agreement. .
What about hackers? There have been many issues in the news regarding hackers stealing large sums of crypto or posting user data after discovering a loophole in the system. Nimbus has responded to this threat in a variety of ways. It already offers a bounty to white hackers in the form of a bug bounty, where individuals are encouraged to find weaknesses in the system and report them to the company.
However, it also has the strength that because it is a completely blockchain-based business, it has no physical assets to steal. There is no money to steal or a digital “safe” to hack so that someone can escape with all the loot. Nimbus takes decentralized nature to the extreme by ensuring that even if one domain is compromised, it won’t infect the rest of the chain.
So what can a new user expect when using Nimbus? They can expect prompt attention to issues via the community support team as well as resources such as YouTube videos and public guides on how to use the platform. There is an active community based on social media sites like Twitter and Discord that Nimbus staff interact with frequently, and constant token values are displayed for a user to browse.
More than all of this, however, a user can expect an environment that encourages them to explore at their own pace. Nimbus considers customer experience and security to be the most important elements of a successful product, and they are committed to ensuring that every transaction is hassle-free and easy to complete.
DeFi is a market that the individual can take advantage of, and Nimbus aims to be the first choice of platforms for those looking to embark on their final journey. Innovation is the key to success and DeFi and the platforms that use it are growing at an astonishing rate. Prosperity is within reach for anyone who takes the plunge and begins their DeFi adventure with Nimbus.
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