Developing DeFi /DApp o Thinkium

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DEVELOPING DeFi DApp ON THINKIUM .
Decentralized Finance(DeFi) has created a lot of traction in the crypto world. Ever since its inception. Currently, DeFi has gained a market value of over $100 BILLION. Thinkium on the other hand, having incorporated the DeFi DApp into it’s system, has enhanced the trading speed and security of her funds.
DeFi :- Decentralized finance (DeFi) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. The system removes the control banks and institutions have on money, financial products, and financial services.
Some of the key attractions of DeFi for many consumers are:
• It eliminates the fees that banks and other financial companies charge for using their services.
• You hold your money in a secure digital wallet instead of keeping it in a bank.
• Anyone with an internet connection can use it without needing approval.
• You can transfer funds in seconds and minutes.
DApp :- Dapps (Decentralised Applications) are the apps that run on the blockchain.
They are digital programs that have an open-source code and host their distribution on P2P networks.
Dapps enjoy complete freedom, ultimate privacy, and indomitable security in their performances, updates, and functioning.
Thanks to their distributive ledger of operations, they eliminate the central authority (person or a group) and support community verification and validation for their existence.
DeFi DApp as broken down above, can be seen or understood to be a Decentralized Finance app for the crypto world.
DEVELOPING A DeFI DApp.
An environment setup is necessary to start the development process. Let us understand every step briefly.

1. Install Truffle and Ganache
   Truffle is a testing and development framework that is used to build smart contracts for Ethereum. This tool provides an efficient way to build and deploy smart contracts to the blockchain.
   DeFi dapps is also using another tool, Ganache. It allows creating local Ethereum blockchain to test smart contracts. This tool stimulates the blockchain network features and provides funds to the first ten accounts with 100 test Ether. Thus, it makes the deployment of smart contracts easy and free of cost.
2. Create An ERC20 Token
   ERC20 is a fungible token that is used to stake on the smart contract. To develop an ERC20 token, you need to install an OpenZeppelin library. This library consists of implementation standards for ERC20 and ERC721.
3. Compile An ERC20 Token
   To compile the smart contract, you must first check the solidity compiler version. You can check that by running the command:
   Truffle Version
   Solidity v0.5.16 is a default truffle version. If the token is written in the solidity version 0.6.2 if you run the command to compile your contracts you will get a compiler error. To specify which solidity compiler version to use, go to the file truffle-config.js and set it to your desired compile version.
4. Deploy ERC Token
   Once the compilation is done, you can now deploy your token.
   For this, open Ganache and select the option “Quickstart” to start a local Ethereum blockchain. To deploy your contract, run:truffle migrate.
   To deploy the smart contract successfully, use the first address listed on the Ganache. To verify that, open the Ganache desktop app and can check the balance of Ether for the first account, it has been reduced due to the cost of Ether to deploy your smart contract.
   CONCLUSION
   Thinkium, being a standard and fast growing crypto community, innovation of these kind are not far fetched to upgrade and secure her funds and transactions. The developing instructions are well broken down and well understood.