Decentralized Finance (DeFi) Explained
What is Decentralized Finance? It is terminology that focuses on applications built on Blockchain with no centralized authority.
What Does a Decentralized Finance App Do?
Decentralized finance (DeFi) apps act as a medium to provide decentralized finance services. A DeFi app is a DApp that offers a variety of services including exchange, insurance, liquidity mining, digital wallet, and others.
DeFi vs Traditional Finance Unlike traditional finance, DeFi has no centralized authority. Features like governance token, liquidity mining, and opensource code make DeFi more transparent. Anyone with an internet connection can avail DeFi services. DeFi shows interoperability which is nowhere evident with traditional finance.
Most Popular DeFi Apps
Uniswap Maker Aave Curve
Convex Flexa dYdX
There is a Lot More You Have Explored Yet. Read the complete blog
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