What Is DeFi?
An introduction to the basics of decentralized finance (DeFi) and three projects suitable for beginners. Cryptocurrency has evolved into much more than just a new version of digital cash or payments. It is a new financial ecosystem built using blockchain’s globally accessible, censorship-resistant, non-haltable, and autonomous platform. DeFi is an abbreviation of ‘decentralized finance’, which is software built on top of a blockchain that enables the creation of services much like standard centralized financial services, with the added benefit of decentralization. This means that users interact with smart contracts and code rather than a central authority, such as a bank.