Decentralized Finance (DeFi) refers to the financial transactions that eradicate intermediaries between participants. It uses cryptocurrency and blockchain technology to eliminate central authorities and provide peer-to-peer facilities to carry out financial services such as banking, loans, mortgages, and more. The primary purpose here is to establish an open-source, transparent, and permissionless ecosystem without any central authority owning the power over financial transactions. It allows participants to control their assets, efficiently conduct peer-to-peer exchanges and build decentralized applications (dApps).
Decentralized Finance Defined
Decentralized Finance Defined
Decentralized Finance Defined
Decentralized Finance (DeFi) refers to the financial transactions that eradicate intermediaries between participants. It uses cryptocurrency and blockchain technology to eliminate central authorities and provide peer-to-peer facilities to carry out financial services such as banking, loans, mortgages, and more. The primary purpose here is to establish an open-source, transparent, and permissionless ecosystem without any central authority owning the power over financial transactions. It allows participants to control their assets, efficiently conduct peer-to-peer exchanges and build decentralized applications (dApps).