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Quick Take

• DeFiChain is a Bitcoin sidechain that uses a Proof-of-Stake (PoS) consensus model while incorporating certain Proof-of-Work (PoW) elements
• DeFiChain has over 11,000 masternodes, a good indicator of decentralization, though not all of them are operated by unique individuals
• DeFiChain has non-Turing complete smart contracts which have been used to program an automated market maker and loan vaults for borrowing
• Despite the robust development of DeFiChain features, there have been significant challenges to overcome, such as the constant de-pegging of DeFiChain’s native stablecoin, DUSD

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