logo logo

WWCrypto provides analysis of the crypto market. In addition to tracking updates in the industry. WWCrypto provides the community with real time information and major events.

WWCrypto

Digital Membership

Get unlimited insight reports trusted by experts around the globe. Become a Member Today!

View pricing plans

London, UK (HQ)

[email protected]
ADVERTISEMENT

Question

What is decentralised finance?


Answers (1)

avatar
Arsalan Afzal
Feb 13, 2022 05:54:10

Decentralised finance (DeFi) is a term for financial applications that run on a blockchain or other decentralised infrastructure. DeFi includes protocols, applications and libraries that allow users to create contracts, borrow money, earn interest and trade without the need for a central authority. The first DeFi application was Bitcoin itself, which allowed users to send value without the need for a third party. Since then, dozens of other projects have been created that build on top of Bitcoin or use their own blockchain-based infrastructure. DeFi is still in its early days, but there is huge potential for it to revolutionise how financial products are created and accessed.

Top Answer

Answer

You must be logged in to post a answer. Login