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What's decentralized finance?

Answers (1)

Arsalan Afzal
Feb 24, 2022 06:55:43

Decentralized finance (DeFi) is a term used to describe financial applications that run on a decentralized network. DeFi applications include peer-to-peer lending, decentralized exchanges, and collateralized loans. DeFi is made possible by blockchain technology, which allows for secure, transparent, and tamper-proof transactions. DeFi applications are growing in popularity due to their security and decentralization features, which provide users with more control over their financial data and assets.

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