What is defi? Defi explainer - Bloggernewsrtech
Defi, short for decentralized finance, is a growing movement in the world of cryptocurrency and blockchain technology. It refers to the use of blockchain technology and smart contracts to provide financial services that are decentralized, transparent, and accessible to anyone with an internet connection. At its core, defi is about using blockchain technology to disrupt traditional financial systems and make financial services more accessible and transparent. This is achieved by building decentralized platforms that operate on top of blockchain networks like Ethereum. These platforms can provide a variety of financial services, including lending, borrowing, trading, and payments. Benefits of defi One of the key benefits of defi is that it operates on a decentralized network, meaning that it is not controlled by any central authority like a bank or government. Instead, it relies on a network of computers and users to verify and validate transactions. This makes defi platforms more secur