Programming languages prevent mainstream DeFi By Cointelegraph

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Programming languages prevent mainstream DeFi

Published Nov 25, 2022 05:30PM ET Updated Nov 27, 2022 08:00PM ET

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Programming languages prevent mainstream DeFi

Decentralized finance (DeFi) is growing fast. Total value locked, a measure of money managed by DeFi protocols, has grown from $10 billion to a little more than $40 billion over the last two years after peaking at $180 billion.

Total value locked in DeFi as of Nov. 2022. Source: DefiLlama

The elephant in the room? More than $10 billion was lost to hacks and exploits in 2021 alone. Feeding that elephant: Today’s smart contract programming languages fail to provide adequate features to create and manage assets — also known as “tokens.” For DeFi to become mainstream, programming languages must provide asset-oriented features to make DeFi smart contract development more secure and intuitive.

Total assets of global financial institutions from 2002 to 2020. Source: Statista

Ben Far is head of partnerships at RDX Works, the core developer of the Radix protocol. Prior to RDX Works, he held managerial positions at PwC and Deloitte, where he served clients on matters relating to the governance, audit, risk management and regulation of financial technology. He holds a bachelor of arts in geography and economics and a master’s degree in mapping software and analytics from the University of Leeds.

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US 30	33,759.9	+698.3	+2.11%
US 500	4,282.3	+61.3	+1.45%
Dow Jones	33,762.76	+701.19	+2.12%
S&P 500	4,282.37	+61.35	+1.45%
Nasdaq	13,240.77	+139.78	+1.07%
S&P 500 VIX	14.60	0.00	0.00%
Dollar Index	103.990	+0.488	+0.47%

Crude Oil WTI	71.87	+1.77	+2.52%
Brent Oil	76.40	+2.12	+2.85%
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Gold	1,964.30	-31.20	-1.56%
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Copper	3.7330	+0.0220	+0.59%
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U.S. 10Y	3.698	+0.005	+0.15%
U.S. 30Y	3.889	+0.006	+0.17%
U.S. 5Y	3.851	+0.009	+0.23%
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Apple	180.95	+0.86	+0.48%
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Amazon.com	124.25	+1.48	+1.21%
Netflix	400.47	-2.66	-0.66%
Meta Platforms	272.61	0.00	0.00%
Bank of America	28.71	+0.93	+3.35%

Programming languages prevent mainstream DeFi

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