The Role of Altcoins in the Decentralized Finance (DeFi) Ecosystem
Introduction Decentralized Finance (DeFi) has revolutionized the financial landscape by eliminating intermediaries and enabling peer-to-peer transactions through blockchain technology. While Bitcoin remains the dominant cryptocurrency, altcoins (alternative cryptocurrencies) play a crucial role in expanding DeFi’s capabilities. Altcoins like Ethereum (ETH), Solana (SOL), Cardano (ADA), and others provide the infrastructure, liquidity, and innovation needed for DeFi protocols to thrive. This article explores the significance of altcoins in DeFi, their use cases, benefits, and challenges, followed by a…