What is decentralised finance?

Decentralized finance (DeFi) is the use of blockchain technology to create financial products that are trustless and autonomous. DeFi applications allow users to interact with each other directly without the need for a third party. Smart contracts allow users to conduct transactions without the need for a middleman. This makes DeFi products more efficient and affordable than traditional financial products. Additionally, DeFi products are transparent and immutable, meaning that users can trust them implicitly.