# Introduction

With more than 600+ cryptocurrency exchanges active and over 6,500 cryptocurrencies in circulation, combining a market cap of over $2 trillion, investors are eager to trade in the rapidly-growing DeFi space. Recent developments in DeFi-Decentralized Finance have created exponential value for crypto and tokens, by adding new and innovative technology solutions.

Cryptocurrencies are widespread and are globally accessible by anyone, anywhere, anytime. The leading technology behind the development and success of cryptocurrencies is blockchain technology. This technology works on the principle of decentralization. It provides better security, safety, and privacy. It reduces business risk and allows transparency with the key feature of decentralization. Berylbit is going to operate on this technology; A layer 1 protocol.
