Is DeFi a Better Choice for Crypto Investors than CeFi? Deep dive
TThere is no denying the fact that the crypto market has faced a massive bearish attack in the last couple of months. This shows that since the beginning of May, the industry has seen many major components fall rapidly. It all started with the collapse of Terra, an algorithmic stablecoin project estimated to be worth $40B at the time of its collapse, followed by other prominent crypto players such as 3 Arrows Capital, Celsius, Vold, ZipMex, and BlockFi.
Following this destructive cycle, approx. 2T worth of capital has been wiped from the market, leading many to say that the centralized finance (CeFi) market cannot be trusted due to its lack of transparency and unreliable operational mechanics, and decentralized finance (DeFi) platforms. The only outlet for crypto enthusiasts seeking true financial freedom.
And while that may be true to some extent, it's worth noting that the DeFi sector has also been exposed to its fair share of issues. To put things into perspective, rogue pool scams accounted for more than $2.8 billion in losses in 2021, and that number continues to rise at a steady pace this year.
How Oracles Can Make DeFi Market More Secure
The idea that one day it will be possible to completely bypass the need for a centralized financial intermediary – like a bank or moneylender – and charge high interest rates has been the hope of DeFi since its inception. However, the recent failure of highly regarded projects such as Terra 
Terra Blockchain network 
and anchor protocol 
Anchor protocol Lend and borrow It calls into question key aspects of this nascent space.
And with the increasing number of scams related to the DeFi sector, many experts believe that the reputation of this market may be irreparably damaged. In fact, most of the scams seen on this site are created by crooks using unreliable sources. Therefore, it is very important that the quality is decentralized 
Decentralized [email protected] Event organizer 
Incidents like this get more attention in the market so they don't rear their ugly head in the future.
In this regard, one solution to overcome these issues is QED, a fully transparent on-premises network blockchain.com that comes with a strong economic/governance framework. 
blockchain.com Crypto trading and information 
, smart contract platforms and off-chain data resources to connect seamlessly with each other. Technically speaking, QED deploys external collateral in exchange for internal digital currency. Due to this novel setup, any issues from data manipulation (which has been found to be the cause of many DeFi hacks) can be completely mitigated.
In addition, QED is able to maintain greater fidelity and transparency in most data feeds due to the fact that it spreads all its data points over a large number of digital entities. Compared to other popular projects like Chainlink, QED can provide fast price discovery, finality, network resilience, security and so on. “Copy Attacks and Side-Channel Hackers”.
Another project worth mentioning in this regard is Whitnet, a decentralized oracle. 
Word of mouth Tech and Design (Software) A network that helps connect smart contracts to various real-world data repositories. In fact, the system can collect digital data published anywhere on the Internet and send it to third-party software (along with key references to verify the data's authenticity).
It should also be noted that Whitnet comes with a highly developed blockchain framework with a rich crypto token – Wight – that can be collected by users to facilitate tasks such as retrieving, verifying and delivering relevant web content. Finally, WIT can be deployed for payments and other internal network actions such as Retrieve-Attest-Deliver (RAD) related functions.
The future may be decentralized but it must be secure
As we continue to usher in an era of digital finance driven by protocols with no single point of failure, it stands to reason that the need for incorruptible and fully transparent live data feeds will rapidly increase. Additionally, in an environment where data breaches and carpet-dragging opportunities continue to grow, it is important that the security of the Diffie economy is comparable to that of its traditional financial counterparts. So, moving forward it will be interesting to see how the future of this space plays out.
