decentralized finance (defi)
Decentralized finance (DeFi) refers to a financial system built on blockchain technology that eliminates the need for intermediaries, such as banks, by allowing users to directly engage in various financial activities, including lending, borrowing, trading, and investing. It aims to provide more accessible, transparent, and inclusive financial services to individuals globally by leveraging the decentralized nature of blockchain networks.
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Similar Concepts
- decentralization
- decentralized applications
- decentralized computing
- decentralized consensus
- decentralized currencies
- decentralized decision-making
- decentralized delegation
- decentralized finance
- decentralized governance
- decentralized networks
- decentralized organizations
- decentralized power
- decentralized systems
- decentralized technologies
- decentralized technology solutions