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From ideas to mechanisms to the new finance



With its year-to-date growth of more than 15x in total value locked, and more than $11 billion committed to the protocols, decentralized finance (DeFi) has become a mainstay in the crypto industry, and a whole new industry in itself. Meanwhile, its shape as a concrete market has not been defined with substantial confidence.

A major shortcoming of DeFi research to date has been its focus on individual projects or simple metrics, such as financials. A systematic overview capturing the essence of the industry and professionally describing it in depth is missing. To address that, Cointelegraph Consulting and Byzantine Solutions have conducted fundamental research on decentralized finance, from the ground-up to complex effects and existential risks.

Redefine 2020: A Primer. Where Decentralization Meets Finance is a landmark study that aims to significantly raise the bar for future research on DeFi. It sets a precedent for a market-wide examination, from the core properties to complex inter-protocol effects and emergent dynamics.

The paper draws a complete map of the industry through common conceptual patterns, recurring ideas, typical problems inherent to the decentralized setting, and the approaches to address them. The high point of Redefine 2020 is the side-by-side comparison of traditional finance and its hindrances versus the natural properties that decentralized finance can leverage to build a better, more resilient system with much greater accessibility and lower friction.

Redefine 2020 is written by economists and industry professionals, it uses professional terminology and assumes the readers are familiar with the concepts of blockchains and smart contracts, as well as financial instruments and their applications.

Download the full report here, complete with charts and infographics.

Cointelegraph Consulting offers bespoke research on digital assets and distributed ledger technology. Our services range from educational seminars, in-depth written reports and consulting on enterprise blockchain implementation strategies. Byzantine Solutions is a fintech innovation lab specialized in distributed ledger technology and blockchains, decentralized finance, cryptographic applications, tokenomics research, and mechanism design. The company offers R&D services, product ideation and architecture design, technical due diligence, and tokenomics development.

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Enjin joins Crypto Climate Accord, goes carbon negative




Enjin, a blockchain gaming and nonfungible token platform, has stepped up to decarbonize its footprint by joining the Crypto Climate Accord, a move that adds further credibility to the industry’s growing environmental mandate. 

The Crypto Climate Accord is backed by 20 firms from the blockchain, fin-tech and greentech industries. Inspired by the 195-signatory Paris Climate Agreement, the Accord was established in April to address the “large and growing energy consumption of cryptocurrency and blockchain, and the climate impact of their energy use.”

Enjin claims that its JumpNet blockchain has already achieved carbon-negative status nine years ahead of schedule. In March, the company said it planned to enable carbon-neutral NFTs by 2030.

“The creation of new forms of technology should never come at the cost of destroying our environment,” said Enjin CEO Maxim Blagov. “Carbon neutrality for JumpNet is an important step toward our vision of a sustainable NFT ecosystem for Enjin and our partners.”

In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and decarbonizing existing digital assets. Other measures include upgrading to carbon-neutral nodes and incentivizing carbon reduction technologies.

Environmental concerns have virtually hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shade over carbon-intensive mining. The Tesla CEO briefly embraced Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now, he states that his firm is willing to accept payments of the virtual currency, provided there’s more evidence for sustainable mining.

Related: Elon Musk lays out when Tesla will begin accepting Bitcoin payments

Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, Tyler and Cameron Winklevoss’ Gemini exchange has purchased carbon credits to reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it raised $105 million to divert waste coal to cryptocurrency mining.