@faithieeebaby
Day 14 — Mastering Ethereum
Here are some of the most shocking facts about Decentralized Finance (DeFi)
-Through a unique DeFi feature called "flash loans," users can borrow funds without providing any collateral at all, provided the entire loan is taken and repaid within a single blockchain transaction.
-Two tokens with the same name can have completely different risk profiles. e.g, native USDC issued directly on a chain is generally safer than "bridged" USDC (USDC.e)
-Despite the name, many protocols rely on a small core team or specific admin addresses with "significant privileges" that could allow them to control the system.
-Because smart contracts are immutable once deployed, governments cannot "turn off" a protocol like Tornado Cash. Instead, they target the human developers; one developer was sentenced to 64 months in prison for writing code that was later misused by others.
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-Web3 VA -Community Mod -SMM -Researcher
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