What is decentralized lending?

Decentralized lending is a way of borrowing and lending money without the need for a third party, like a bank. This can be done through a variety of services that use blockchain technology to keep track of transactions. One of the benefits of decentralized lending is that it cuts out the middleman. This can save borrowers and lenders money on fees, and it can also speed up the process of getting money into or out of someone's hands. Decentralized lending platforms also typically offer more security than traditional banking systems. Because these platforms are built on blockchain technology, they are less likely to experience hacks or other security breaches.