Decentralized Finance (DeFi)
Decentralized finance, or DeFi, is a blockchain-based financial system that aims to offer traditional financial services without the need for intermediaries like banks or brokerages. Instead, DeFi relies on smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
DeFi allows for anyone with an internet connection to participate in financial activities like lending, borrowing, and trading using cryptocurrencies. This allows for more financial inclusion and access for people who may not have had access to traditional banking services.
Some popular DeFi exchanges include Uniswap, SushiSwap, and Curve Finance, which allow users to trade cryptocurrencies without the need for a centralized exchangeA cryptocurrency exchange is an online platform that allows users to buy, sell, and trade cryptocurrencies. These exchanges serve as intermediaries between buyers and sellers,.... Popular DeFi apps include Aave, Compound, and MakerDAO, which offer lending and borrowing services, and allow users to earn interest on their crypto holdings.