Vent Finance and Their Role in the Future of Decentralization.
The creation of the blockchain used to power the first cryptocurrency, Bitcoin in 2008 has created a new era of decentralization. Since then, the world we live in is becoming more decentralized everyday.
So what does it mean to be decentralized?
In simple terms decentralization is the transfer of control from one main group to multiple smaller ones. Within the world of cryptocurrency this is achieved by the blockchain technology. This technology, created by Satoshi Nakamoto allows for digital information to be recorded and distributed without a central authority. When an action is made on the blockchain such as a transaction being made, a ‘block’ representing that action is created and sent out to every participant within the network to then be validated before being added to the existing blockchain.
What impact can this have on our future?
The possibilities that this can bring to our future is endless. An example would be peer-to-peer financial products, like decentralized savings and checking accounts or loans, where banks or any singlular authority is irrelevant. Cutting out the middle man makes such products more efficient, affordable and rids of the possibility of fraudulent editing of information from an authority.
Decentralization is increasingly being incorporated into our world with many advances being made in many different aspects of society. In 2021 the Minister of Education from the Ethiopian Government, Dr.-Ing Getahun Mekuria, confirmed 5 million secondary school students and 700'000 teachers are coming to the Cardano Blockchain via the Ministry of Education’s app, Atala PRISM. This deal shows mass adoption of the blockchain technology at a government level and is the biggest blockchain deal ever at this point in time. This advancement will allow easy tracking of school records and grades, a key step into improving education and helping people rise from economic hardship.
So, what role does Vent Finance have in this future of decentralization?
Vent Finance is making DeFi (Decentralized Finance) accessible to everyone and providing new investment oppurtunies within the crypto space. Vent Finance operates on the Cardano Blockchain mentioned earlier, making it a part of the Cardano Ecosystem, and an essential part that is.
“Our ultimate mission is to supercharge adoption of decentralized finance, and smoothen out the experience of complying with traditional financial regulations.” - Vent Finance
One of their projects that is soon to be released is known as Ventup. Ventup is a crypto launchpad that will play a significant part in achieving their goal of supercharging the adoption of DeFi. A crypto launchpad allows you to identify early-stage crypto projects and participate in the presale of their crypto token. This presale of a token allows capital to be raised for these projects, and for the investor, results in purchasing tokens at a reduced price before they hit the markets.
What makes Ventup different from other crypto launchpads?
Ventup has been designed for project creators that are supported by the community. The Ventup platform is providing forums in which potential investors are able to comment on and upvote projects. This puts power into the hands of the community and allows for natural prioritization of projects that the community sees will be most beneficial to our future.
“We are not transaction-based like other launchpads, we are community-based. We recognize the power that a community holds. That is why we give them complete control. They hold the power to make a project a reality.” - Vent Finance
Vent Finance also offers coverage of your funds against risks, hacks, and rug pulls (a malicious maneuver where crypto developers abandon a project and run away with investors’ funds). As well as this they have 24 hour support to assist with any issues or queries.
How can I get involved in Vent Finance?
Vent Finance have their own crypto token known as $VENT tokens that can be staked to earn points that you can use to buy into future token sales.
“Staking is a process that involves buying and setting aside a certain amount of tokens to become an active validating node for the network.” - Capital.com
Holding these $VENT tokens and being engaged in the community will earn weekly rewards and is just one way that you are able to participate in the future of decentralisation.
If you believe in the future of Vent Finance and decentralization as a whole, you can find out more information about their projects and their $VENT token sale through their website and twitter linked below.
