Banking
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Beginners Guide to Understanding Decentralized Finance (DeFi)
- April 22, 2021
- Posted by: DanCurranJr
- Category: Exchanges \ Wallets, General Information, Research Tutorials
No CommentsWhat is DeFi and How Does it Work? In practice, DeFi is a network of DApps (decentralized applications) and smart contracts built on Ethereum blockchain that focuses on financial applications such as loans, derivatives, exchanges, trading, and more. DeFi focuses on the concept of “Lego” money. That is, the idea is for anyone to be able