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What is Onchain Assets

Chapter 6

Decentralizing the Online Experience With Web3 Technologies

Assets that exist natively on a blockchain network, such as cryptocurrencies, stablecoins, and non-fungible tokens (NFTs). Onchain assets are secured by the blockchain's distributed ledger and can be directly transferred between users.

Published in Chapter:

Revolutionizing Finance With Decentralized Finance (DeFi)

Vijaya Kittu Manda (PBMEIT, India), Arnold Mashud Abukari (Tamale Technical University, Ghana), Vivek Gupta (Indian Institute of Management, Lucknow, India), and Madavarapu Jhansi Bharathi (University of the Cumberlands, USA)

Source Title: Decentralizing the Online Experience With Web3 Technologies

DOI: 10.4018/979-8-3693-1532-3.ch006

Abstract

Decentralized finance is an innovative use of blockchain technology in financial services. Because of its transparency and lack of intermediaries, it brings several advantages to the traditional finance ecosystem. Features like tokenization, total value locked (TVL), oracles, and data aggregation help in building a variety of DeFi products and services. Decentralized apps (dApps) run autonomously atop distributed ledger networks. Decentralized stablecoins, decentralized exchanges (DEX), decentralized credit and lending, derivates, and even decentralized insurance are offered on DeFi platforms. The chapter takes through three forms of decentralized insurance models. Case studies and examples for successful and unsuccessful claims are explored. However, the implementation of DeFi comes with its challenges and regulatory hurdles. Similarly, governance and security aspects are of increased importance.

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