The introduction to the world of decentralized finances

Decentralised Finance (DeFi)

Commonly referred to as DeFi, the decentralized finance solution is based on blockchain technology. Owing to that, it is secure and allows seamless transactions to happen in the open source without the necessity of intermediaries, unlike the traditional services (the third party being, for example, brokerage). To put it in the simplest terms, this procedure does not require a central authority to keep all of the transactions safe. Its invention was a big break-through in the world of economics, as it gives everyone around the world unlimited access and opportunity to engage in transactions and benefit from various services offered on these platforms. Moreover, they are much easier to use, since they require very little technological infrastructure, as compared to traditional online stock exchanges.
A defined ecosystem based on financial applications (called dapps, due to their decentralized nature) is created on the blockchain (distributed digital ledgers). The activities that users undertake on DeFi platforms vary from trading cryptocurrencies, earning passive income via a staking service, to speculating on price movements of assets, just like on a traditional exchange.

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