2023.05.07
What is DeFi and How Does It Work?
DeFi, short for "decentralized finance," refers to financial services provided on public blockchains, especially Ethereum. This platform enables users to perform various activities similar to those offered by traditional banks, including borrowing, lending, earning interest, buying insurance, trading assets and derivatives, and more. Unlike traditional financial institutions, DeFi is faster, paperless, and does not require intermediaries.
