Dharma, a popular ethereum-based financial service, suddenly disappeared in August, after a series of faults were discovered in the original app. Fortunately, Darhma has announced the launch of their second version, which promises to bring many new benefits.
— Dharma (@Dharma_HQ) August 29, 2019
But what does the ethereum-based financial service offer? Dharma’s main selling point for their second version is the compound interest they are going to award their users. According to company announcements, the upgraded version of the services will allow anyone who has access to the internet to earn interest on Dharma V2.
According to many followers of the company, and cryptocurrency enthusiasts, the upgrades are going to change the popular perception of ethereum-based financial services. The fact that Dharma will dip into compound interest will attract many new users and even customers who have never dealt with cryptocurrency before.
Ethereum-based financial services might be the future of lending
Services and applications like Dharma have the potential to revolutionize the way the mass population treats its finances.
Earning compound interest on your virtual assets is going to become a norm very soon, as traditional banks are lagging, and interest rates are continually falling.
Students looking to get away from the impossible student loans can quickly turn to ethereum-based financial services like Dharma, and try to save up for their college education. The fact that this is a decentralized online application means that anyone who has access to the Internet and a digital device can start earning.
Blockchain financial solutions are entering personal financing steadily, and soon even the people who distrust cryptocurrencies will get interested in saving up with apps like Dharma.