In his most recent interview, the CEO of ADALend decentralized finance protocol, Kaspars Koskins, has described how the project changes the banking industry by implementing decentralized technologies and blockchain, and how ADALend is becoming the vanguard of the revolution in the lending industry.
In today's world, banking has become even more complicated for various groups of people that face numerous obstacles in using traditional banking solutions; that is why Decentralize Finance platforms received even more demand recently, which plays out in the favor of such projects as ADALend.
Platforms like ADALend provides users with proficient interest rates for both borrowing and lending solutions. Due to its decentralized nature, all services that users utilize on the platform cannot be attacked, taken or blocked by any centralized party, unless the entire blockchain decides to do so.
Be sure to read up on this article about us right here ? ? https://t.co/02ZIUrxux3
— ADALend (@ADALend_finance) February 13, 2022Advertisement
In comparison to centralized structures, the DeFi system is far more robust and anti-fragile, as the ADALend CEO notes. Thanks to the efficient scaling of the Cardano network, their protocol is more stable and more immune to attacks from the outside.
According to Koskins, ADALend is being developed as a scalable, trustless, and decentralized lending protocol that utilizes a self-governed environment for protecting its users. It was initially chosen to build the protocol on the Cardano blockchain, as other solutions like Ethereum or Solana have numerous underlying problems that could greatly affect the user experience in a negative way.
For example, the Ethereum network at some point became somewhat unusable for a certain group of traders and investors as fees for one transaction could hit hundreds of dollars as well as the exponential increase in average transaction time. Solana network, on the other hand, offers a more delicate fee structure that allows for making a large number of transactions at a low cost but, unfortunately, it has shown itself to not be the most technically stable solution on the market.
Currently, ADALend is in the final stage of its private sale that ends on Feb. 28, which will be the last date for acquiring ADAL tokens at a discount. The process of a private IDO stage is somewhat similar to buying Google or Apple stocks before the IPO.
Alex Dovbnya
Dan Burgin
Vladislav Sopov