What Is Phoenxi Defi Finance (PNIXS)?

What Is Phoenxi Defi Finance (PNIXS)? Complete Guide Review About Phoenxi Defi Finance.

What Is Phoenxi Defi Finance (PNIXS)?

Phoenxi Defi Finance was created with the sole purpose of maximizing investment in a secure and sustainable ecosystem. Built on Binance Smart Chain(BSC) and the concept of decentralized finance, users will have the
opportunity to generate profit while holding the Phoenix Token (PNIX). All wallets holding PHOENIX DEFI FINANCE tokens automatically and permanently take part in the earning process.

Simply put, interest rate will accumulate overtime with every duration, offering a whole new experience in savings and investment. Specifically tailored to meet the demand of the investment market, Phoenix DeFi Finance mission is to eliminate the bureaucratic interference between users and the financial system, driving up liquidity in an illiquid environment while inculcating the culture of savings in the blockchain industry.

Phoenxi Defi Finance Storage Key Points

Coin BasicInformation
Coin NamePhoenxi Defi Finance
Short NamePNIXS
Circulating SupplyN/A
Total Supply795,929
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Current Problems

Over the past few months, decentralized finance has grown tremendously in the blockchain industry. Creating a whole new experience in Fintech. The trend gave rise to companies offering various financial products such as lending, staking, savings etc. However, there is still need for a robust means of investment. Results from deadcoins.com catalog, record a significant number of dead projects over a short period of time. 2017 marked the beginning of these dead projects, with a higher percentage falling under the investment and savings niche.

Phoenxi Defi Finance The proliferation of which culminated in the loss of interest in the investment segment. Additionally, most of these projects have inferior liquidity, outrageous high yield of investment, and unrealistic concept. There’s an urgent need to address the dramatic decline of interest in the investment segment while eliminating the risk factors associated with the industry.

Phoenix DeFi Finance’s objective is to narrow down these risk factors to a minimum level, incentivizing the investment ecosystem and creating a new breed of investors. Using a strategic approach that will lead to immense growth in the investment segment.

Lack of standardization

Currently, the blockchain industry lacks the capability of communicating seamlessly with other chains in the same network. Over 6,500 projects are leveraging a variety of mostly standalone blockchain systems with different protocols. The result is one gigantic network in disarray. Hence there’s a need for a standardized formula that will enable the smooth communication between networks in the blockchain industry.

The mass adoption of blockchain will come down to how different networks in blockchain interact with one another and the concept by which they do that seamlessly is called interoperability. Phoenxi Defi Finance In order to efficiently get rid of intermediaries or third parties, it is important for blockchain interoperability to fully be utilized. The elimination of intermediaries is one of the key concepts why blockchain was built in the first place, putting that in check will uphold that concept.

Speed

The nature of blockchain is complex, encrypted which affects the sped of the network. Speed, a critical aspect that will help to mass adoption is quite slow in the blockchain industry. The traditional fintech industry is much faster with brands like Visa recording 1,700 transactions per second.

Consequently, with the number of users increasing, transactions become much slower to process. Blockchain transactions can take from seconds to hours to process, a challenge that makes mass adoption far-fetched, restricting more users from utilizing the technology.

High Fee

The problem of network congestion has been indicated as the main cause of high gas fees. The transaction fees of blockchain are high, attributed to the bitcoin block size which is about 1MB. What this means is that miners can only process or confirm 1MB bitcoin block worth of transactions per minute. When transactions are lined up, blockchain miners will choose that which far exceeds what will fit in one block due to the high transaction fee attached to it.

Phoenxi Defi Finance Simply put, as demands get higher than supply, miners will seek transactions with higher fees as a priority before considering low fe transactions. The disparity in transactions and with the increase in the number of users, delays and backlogs of transactions becomes unavoidable, skyrocketing the fees to an all-time high.

Decentralized Finance

Phoenxi Defi Finance Over the past few months, decentralized finance has grown tremendously in the blockchain industry. Creating a whole new experience in Fintech. The trend gave rise to companies offering various financial products such as lending, staking, savings, etc DeFi is built to encompass all the advantages of a financial institution without any intermediaries which are predominant in centralized financial institutions. Intermediaries such as banks, insurances are now being operated by the powerhouse known as a smart contract.