Crypto Ecosystem: Past, Present, and Future of Decentralized Finance

A comprehensive overview of the crypto ecosystem, exploring its origins with Bitcoin and its evolution into a diverse landscape of cryptocurrencies, tokens, and Decentralized Finance (DeFi) applications. It examines the underlying technologies such as blockchain and Distributed Ledger Technology (DLT), while also categorizing and explaining various crypto assets. The authors discuss the key players in this ecosystem and analyze the evolving regulatory frameworks in the EU and US. Finally, the paper critically evaluates the core tenets of crypto ideology, assessing the realized promises and persistent challenges within this rapidly expanding financial sector.