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The decentralized finance (DeFi) sector is facing increasing security concerns, with vulnerabilities arising from complex smart contracts and cross-chain bridges. Experts highlight major risks such as oracle manipulation and governance attacks. Charles D’Haussy from dYdX compares the current state of DeFi to the internet in the 1990s, suggesting that it is on the brink of a transformation akin to a 'walled garden' model, which could make apps more accessible as regulatory scrutiny intensifies. The challenges faced by DeFi include high volatility, complex user interfaces, and fragmentation across multiple blockchains, complicating access for mainstream users.
DEFI’S “WALLED GARDEN” MOMENT? LIKE THE ’90S INTERNET, IT NEEDS TO LEVEL UP Charles D’Haussy from dYdX thinks DeFi’s about to go all “walled garden” just like the internet in the 1990s. No more wild west — apps will be where it’s at. With regulators honing in, CeFi will bridge… https://t.co/1bTorffuQo
⚡️ INSIGHT: #DeFi faces significant hurdles, including high volatility, complex interfaces, and fragmentation across multiple blockchains, complicating access for mainstream users.
🔐 Have you ever experienced a security breach in the crypto space? In the fast-evolving world of #crypto, security incidents can happen to anyone. If you’ve faced a breach, what was your biggest takeaway? Did it change how you approach security in #Web3? Share your experience… https://t.co/EhmeQpjIB2