The world of decentralized finance has gained its popularity for various reasons such as low costs, more transparency, increased reliability and trust, faster transactions, and much more. However, one specific characteristic of DeFi plays the part of the primary driving force behind its popularity: incentives.
Bitcoin recently experienced a bearish run fueled by many macro level disruptive events most notable of which is the COVID-19. The cryptocurrency will undergo another halving in May 2020 which will cut miner’s reward by half from 12.5 BTC per block to just 6.25 BTC for every block a miner finds.
Domino's Pizza, the French unit of an American conglomerate pizza restaurant chain established more than five decades ago, rolled out an ordering contest with a huge premium of around $110,000 in Bitcoin (BTC) or hard money of 100,000 euros.
Significant world online payments system PayPal has rolled out a distributed ledger technology (DLT)-based reward system for all of its workers. Michael Todasco, a PayPal director, was cited elaborating on the platform launch in a report published by Cheddar, the financial news channel, on December 6, 2018. Everything is kept on a blockchain tech ledger, and the program is now live.