Terra Protocol Surpasses Binance Smart Chain in Terms of Value Locked in Defi - YesMobile (2024)

FAQs

What is value locked in DeFi? ›

Value Locked is an indicator to evaluate the adoption scale of a DeFi project by calculating the total value (USD) of all ETH and other ERC-20 tokens locked in the corresponding smart contracts. This chart separates the Top 20 projects by TVL and others are grouped into a single category.

The total value locked on a chain is calculated by summing the total value of digital assets locked on a specific DeFi platform or dApp. In this respect, digital assets are cryptocurrencies or stablecoins that are being used as collateral for loans or to add liquidity to a platform.

Binance Smart Chain (BSC) is a layer-1 blockchain built to support smart contracts, running alongside the Binance Chain, which was designed to support high transaction volumes.

As outlined in the 2024 outlook BNB Smart Chain (BSC) is focused on building an infrastructure that supports its DeFi ecosystem. Our goal is to provide developers with the tools and a high-performance platform that can easily support their applications and visions.

Value lock-in is a state in which the values determining the long-term future of Earth-originating life can no longer be altered.

As the largest DeFi-oriented blockchain in the Bitcoin ecosystem, with over $180 million in total value locked (TVL), DeFiChain delivers fast, secure, and transparent DeFi services to users worldwide.

To withdraw money, you must paste a withdrawal address that matches an external wallet or exchange address you control into your DeFi wallet. You also need to ensure enough crypto to cover network fees arising from the transfer. Afterward, you can preview fees and confirm the transfer to begin your withdrawal.

The Binance Chain, where staking and voting occur (BNB Chain Governance), has changed its identity to BNB Beacon Chain under the rebranded BNB Chain umbrella. The Binance Smart Chain, which supports several blockchains and is compatible with the EVM, is known simply as BNB Smart Chain, still abbreviated as BSC.

Is Binance Smart Chain good? ›

BNB Chain claims to be among the most popular blockchains in the world, recording 4 million daily transactions and more than 1.4 million contracts, according to BSCScan and Solidus Labs. It's thought to be a low-cost, fast alternative to Ethereum (ETH -0.37%).

Binance Chain and Binance Smart Chain are decentralized blockchain networks. Binance Chain aims for fast transaction capability, while Binance Smart Chain is an innovation of Binance Chain supporting the development and running of Dapps. Binance Smart Chain is compatible with Dapps originally coded for Ethereum.

The biggest differentiator between DeFi and Bitcoin is their concept. While DeFi is a decentralized financial services system, Bitcoin is a cryptocurrency. Simply put, DeFi is the environment that facilitates Bitcoin transactions between two individuals or parties.

Short for decentralized finance, DeFi is an umbrella term for peer-to-peer financial services on public blockchains, primarily Ethereum. DeFi (or “decentralized finance”) is an umbrella term for financial services on public blockchains, primarily Ethereum.

You can trade for 300+ cryptocurrencies on Binance's industry-leading, fast, and secure trading platform. Binance offers many trading pairs for DeFi Tokens trading to meet your needs. Earn Rewards by staking coins.

Locking liquidity makes the funds immovable until they are unlocked. This means that a certain percentage of the asset has been locked and cannot be withdrawn by the developers which gives investors a sense of security against their investments.

Top Blockchains by Total Value Locked (TVL)

With a Total Value Locked (TVL) of $49.6 Billion, Ethereum has the largest market share across all blockchains today. Collectively the TVL of all chains is worth $80.9 Billion, representing a 6.5% movement in the last 24 hours.

· Nov 1, 2023. When a Bitcoin is locked, it usually means that it is held in a way that restricts its immediate use or transfer. There are different scenarios in which Bitcoin can become locked, and the implications vary depending on the specific situation.

During this time, the tokens are locked and cannot be traded or transferred. Once the vesting period expires, the tokens become unlocked, and the holders can freely use or sell them.