For more than a decade, Bitcoin supporters have touted it as decentralized form of money overseen by blockchain software rather than a central bank. What's new this time around is that a set of equally decentralized infrastructure has grown up around Bitcoin, Ethereum and other cryptocurrencies. This includes exchanges and websites that broker crypto loans, letting crypto holders earn interest on their stash.
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Crypto soars again as traders embrace ‘DeFi’ and ‘yield farming’—but some see echoes of the 2017 bubble
"If you want to participate in DeFi and yield farming, you need to know what you’re doing. It's mostly technical folks who have been in this for a while," says Johnson of Jump Capital. This may not be a bad thing. The technical barriers could prevent millions of amateur investors losing their shirts, which is what happened when the 2017 bubble popped.
