DeFi has gained significant traction in recent years. Many see DeFi as a potential game-changer for the financial industry, offering a more inclusive and accessible financial system for individuals and businesses around the world.
DeFi, short for decentralized finance, refers to a category of financial applications and services that are built on top of decentralized, blockchain-based networks. DeFi aims to provide a more open, transparent, and accessible alternative to traditional financial systems, by leveraging the benefits of blockchain technology such as security, immutability, and censorship resistance.
Some examples of DeFi applications include decentralized exchanges (DEXs), which allow users to trade cryptocurrencies without the need for a central authority, and decentralized lending and borrowing platforms, which enable users to access credit without the need for a traditional bank.
