Accessibility

Another significant challenge in the blockchain ecosystem is overcoming the barrier to entry: accessibility. DeFi's innovative mechanisms come with a steep learning curve, which hinders access to these services.

User Accessibility

Highly technical individuals typically already enjoy financial stability and often have ample time to research and troubleshoot, with access to supportive communities if needed. On the other hand, economically disadvantaged individuals lack these advantages. They often have limited time, may not understand the technology well, and thus face significant barriers to entry into ecosystems like blockchain DeFi marketplaces.

However, the majority of potential community members likely fall somewhere between these extremes. It's crucial for any emerging DeFi ecosystem to recognize and address these barriers to entry. Thus far, innovators in the blockchain space have struggled in this regard, requiring technologically illiterate consumers to navigate a steep learning curve to utilize blockchain technologies.

Developer Accessibility

Developing meaningful blockchain technology demands a developer team with expertise in various fields including cryptography, network security, sidechain security, the base blockchain layer, distributed systems, and smart contracts. However, for most developers focusing on building decentralized applications (dApps), their main task involves working with smart contract code and developing the front-end to enable user interaction.

To truly eliminate barriers to entry for most developers, it's essential to abstract away the necessity to directly engage with the core blockchain. This allows developers to innovate safely within the dApp space without being encumbered by the complexities of the underlying blockchain technology.