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What is decentralized finance (defi), and how does it work?

#1
DeFi is built on the Ethereum blockchain network. The major objective of DeFi is to create a permissionless, open-source and transparent system for the users that operate efficiently without the help of any central authority. It allows users to view and manage their digital assets. 

How DeFi works?
  • DeFi consumes low trading fees when compared with other traditional finance networks.

  • Since DeFi is an open-source ecosystem, it provides the users to access their records without any complications.

  • Unlike traditional finance, DeFi does not face any failure or risk factors as it is deployed on top of Blockchain.


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