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Ethereum (ETH) for DeFi is Apple for iPhone: EthHub Co-Founder

Co-founder of EthHub educational community and host of Into The Ether podcast Anthony Sassano explained the role of Ethereum (ETH) blockchain in DeFi segment progress

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Cover image via stock.adobe.com

Mr. Anthony Sassano has explained what decentralized finance and iPhone have in common, and how the Ethereum (ETH) blockchain can be compared to Apple Inc.

Trying to copy the best one

According to the expert's opinion, which he shared in a tweet, Apple is as meaningful for iPhone as Ethereum (ETH) is for the decentralized financial ecosystem. Blockchains outside Ethereum (ETH) will try to copy Ether-based DeFi but will end just like the attempts of Apple's competitors in copying its flagship smartphones.

Anthony Sassano compares Ether-based DeFi to Apple's iPhone
Image by Twitter

Despite these attempts, Apple will remain the only real producer of iPhones and only Ethereum (ETH) will on-board real DeFis.

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Anthony Sassano explained that this analogy is valid only in terms of the 'real' essence of both iPhone and DeFi and not the exclusive features of the Ethereum (ETH) blockchain.

What the statistics can tell us

Up-to-date statistical data about the decentralized finance segment showcases that Anthony Sassano isn't far from the truth. According to the Defi Pulse explorer, almost 95% of trustworthy decentralized financial applications are launched on the top of the Ethereum (ETH) network.

DeFi Prime: Ethereum (ETH) hosts 95% of DeFis
Image by DeFi Pulse

Moreover, a significant share of DeFi works with multiple platforms. Decentralized financial instruments that support only one blockchain outside of Ethereum (like the EOSRex decentralized exchange, EOSDT stablecoin ecosystems and others) are very rare.

As covered by Cryptocomes, ex-Messari analyst, angel investor and researcher Qiao Wang announced that the DeFi segment has a long road ahead of it. The hype around this sector will last significantly longer than the ICO mania of 2017.

👉 MUST READ DeFi is Real, Crypto Hype Cycle Has Just Started: Analystrelated article image

However, at this nascent stage, traders interested in speculations on DeFi assets should be extremely careful. Successful speculations require a lot of balance between hype and technology, Mr. Wang warned.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)