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.