Although many may already be familiar with DeFi, the industry as a whole saw the arrival of an immense milestone with its recent explosive growth, achieving over $15 billion in total asset value locked in smart contracts. While this is an incredible marker on the path for DeFi, traditional financial markets in comparison still tower over the emerging DeFi market.

DeFi has just begun to scratch the surface of tapping into it.

In comparison to other money markets, DeFi is a drop in the bucket. The current dominance of various assets including cryptocurrency, gold, the stock market, global real estate, and derivatives in comparison to DeFi is a stark one.

Currently, there is around $1 quadrillion sitting in the derivatives market. Comparing that with $280.6 trillion in global real estate, $89.5 trillion in the stock market, $10.9 trillion in gold, and a humble $360 billion in the cryptocurrency market as a whole, it’s clear to see that DeFi has lots of room to grow.

If the pandemic has shown us one thing it is that instead of backing gold, as people have done in the past, record volumes of individuals and traditional financial entities instead chose to seek out Bitcoin. This significant revelation only adds to the momentum DeFi is already carrying. Couple this momentum with interoperability solutions and it’s plain to see things are heating up.

As time marches on DeFi as a whole is finally starting to see the pieces fall into place. New users approaching DeFi for the first time are no longer having to jump through multiple applications and confusing setups and are accessing more simple and user-friendly applications and interfaces which only become better with time.

DeFi is finally getting a spark going that promises a solution to centralized finance for those who seek it. Since there are still so many individuals out there who are behind the learning curve when it comes to decentralization as a whole, mass adoption will take time. However, when the development and planning of DeFi meet its inevitable opportunity with the growing number of people seeking decentralized financial options, it’s only a matter of time before DeFi really starts growing.

For more information on Paralink, Oracles, and why many DeFi projects rely on projects like Paralink visit the Paralink Network website.