Interesting facts about decentralized finance (Defi)
DeFi is a decentralized financial system that reimagines financial transactions by removing intermediaries and is based on blockchain technology, typically Ethereum.
Not managed by a third party:
It allows you to lend out money and earn interest, take out a loan, and exchange one asset for another, without needing a bank.
Written in code or Smart contacts:
The system runs by itself on blockchain technology with code or smart contracts that can execute automatically when certain conditions are met.
Faster, cheaper, and globally accessible:
Defi is one of the fastest-growing sectors. Defi services and networks are more global, more accessible, and more transparent than traditional financial services.
Defi apps (dapps) are available to anyone:
Decentralized apps or Dapps is an apps built on decentralized technology. dapps can run themselves with no human intervention.
You can learn more about Decentralized finance, and their work process from reputable Defi Development Company In India.