Decentralized finance has become the fastest-growing sector of the blockchain industry. Today, there are over 200 projects working on a wide variety of decentralized financial products and services. That number continues to increase every day as new DeFi-related projects launch.
The most telling figure of this rapid growth is the staggering amount of money that is locked in DeFi, recently having passed the $7 billion threshold. The challenge is that increased growth leads to higher risks. As DeFi continues to grow at a rapid pace, this burgeoning industry will experience severe growing pains along the way unless proactive measures are taken, particularly related to security.
Kadan Stadelmann is a blockchain developer, operations security expert and Komodo Platform’s chief technology officer. His experience ranges from working in operations security in the government sector and launching technology startups to application development and cryptography. Kadan started his journey into blockchain technology in 2011 and joined the Komodo team in 2016.