Description

DeFi, short for Decentralized Finance, is a new type of financial services built on top of existing blockchain technology. It enables users to interact, transact and invest in a completely decentralized and trustless manner. DeFi is a rapidly growing sector of the cryptocurrency industry, and its goal is to provide users with a secure and more efficient way to access a wide variety of financial services, such as lending, borrowing, trading and investing.

DeFi is based on the idea of decentralization, which means that there is no single entity controlling the system. Instead, it is powered by a combination of smart contracts, open source protocols, and decentralized applications (DApps). This allows users to access financial services without having to trust a third party or rely on a centralized authority. In addition, DeFi offers users the ability to transact with digital assets in a secure and transparent manner.

One of the most popular DeFi services is decentralized lending and borrowing. This allows users to lend and borrow funds without the need for a bank or other centralized financial institution. Decentralized lending and borrowing platforms are powered by smart contracts, which are programmed to ensure that the funds are transferred and exchanged in a secure and transparent manner. This eliminates the need for middlemen