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[NoLimits15]

Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?

 

[Josemendez]

Decentralized finance also known as defi, easy finance image is not regulated by anybody or any central body.
It has gotten huge adoption within the past few months.

And it is not surprising that this is the case. People want freedom and as such they will do anything that will help guarantee this freedom.

 

[Chibson]

And it is not surprising that this is the case. People want freedom and as such they will do anything that will help guarantee this freedom.

Of course, financial freedom is very important and people will do anything to have that. Cryptocurrency is just the answer, because people don't like being monitored.

 

[Josemendez]

Of course, financial freedom is very important and people will do anything to have that. Cryptocurrency is just the answer, because people don't like being monitored.

More reason why cryptocurrency lovers are not comfortable with the regulation issue that is going on in the world. Crypto was created to give Decentralized financial system

 

[Chibson]

More reason why cryptocurrency lovers are not comfortable with the regulation issue that is going on in the world. Crypto was created to give Decentralized financial system

Definitely, the purpose of cryptocurrency will be defeated if it is regulated. A lot of people will no longer be interested in it if such happens.

 

[Josemendez]

Definitely, the purpose of cryptocurrency will be defeated if it is regulated. A lot of people will no longer be interested in it if such happens.

Ofcourse because there will be no much difference between the regulated cryptocurrency market and the traditional banking system

 

[Chibson]

Ofcourse because there will be no much difference between the regulated cryptocurrency market and the traditional banking system

Yeah, spot on. there are many countries planning to bring out digital currencies which are centralised, and I think this is a move to oppose cryptocurrency which is highly decentralized.

 

[Mariappa45]

Yes, it's a new innovation indeed that is like any other cryptocurrency, but has advanced features through the help of smart contracts created using Dapps. It's security protocol is well built with strong SSL which makes the transactions safe.

 

[mkorie]

Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?

From a technology and business perspective, decentralized financial technology has the potential to disrupt not only the way most financial services are provided, but also the whole industry, opening the door to more innovation and more access for people worldwide. Currently the rate of returns on invested funds on DeFi projects far outweigh that of the traditional centralized finance institutions.

 

[alishastar]

I would say that DeFi platforms are the future of crypto. Especially with countries now getting concerned about it and trying to ban crypto, like India. As it operates absolutely independently and there's not one financial institute or governmental organisation that can control it somehow, I believe it will help democratise banking and finance and make it accessible for everyone. Being independent of any corporation also makes DeFi more safe and secure than CEX. Plus, the transparency of all the operations is a huge benefit.

 

[bitkids]

DeFi is global, peer-to-peer (in simple words it means directly between two people, not routed through a centralized system), pseudonymous, and open to all.

 

[AMAGOTEYES]

Now this is very much inflated among most of the media. The so-called "inflated bubble" does its job. The main thing in all this is not to lose your head and not throw all your money into this environment.
In general, it is better to do something useful for society and for yourself. :)

 

[elsa46]

DeFi uses cryptocurrencies and smart contracts to provide financial services to eliminate the need for intermediaries such as guarantors. Such services include lending (where users can lend out their cryptocurrency and earn interest in minutes rather than once a month), receiving a loan instantly, making peer-to-peer trades without a broker, saving cryptocurrency and earning a better interest rate than from a bank, and buying derivatives such as stock options and futures contracts.

 

[Josemendez]

DeFi uses cryptocurrencies and smart contracts to provide financial services to eliminate the need for intermediaries such as guarantors. Such services include lending (where users can lend out their cryptocurrency and earn interest in minutes rather than once a month), receiving a loan instantly, making peer-to-peer trades without a broker, saving cryptocurrency and earning a better interest rate than from a bank, and buying derivatives such as stock options and futures contracts.

The beauty of these things is the fact that one carries these action without relying on any third party but through the help of smart contracts. The only challenge I see here is the fact that Decentralized Finance is prone to hacks due to the fact that it's operation are based on written codes. Once there is an error in the codes, bad players can leverage on it and steal users funds , and because of its decentralized nature , most times these bad players are not tracked . They go away with the fund. Amdist these challenges, Defi is still the best because it gives users full control of their funds. The usual kyc available in centralized finance is not present and it makes it more interesting .

 

[tooraj]

Hi
Do not be mistaken, friends. There is no freedom for ordinary people.
There is only a choice between two types of captivity.
Captivity by governments or by multi-billionaires.
For example, a few days ago, when the inflation results of the American market were announced, a large number of people had traded on Bitcoin shorts.
But what happened?
A few billionaires, or as traders say, big whales, pumped Bitcoin for a few minutes.
As a result, all those people were liquidated. Then the market fell as usual.
This is another form of slavery, only the whales benefit from it instead of governments.

 

[magnus2022]

DEFI is a new innovations that simply means decentralized finance. DEFI use smart contracts to make transactions among the peers. DEFI is still improving and still have lot of prospects. DEFI can be used through Dapps. Dapps simply means decentralized apps.

 

[Elena Lokteva]

DeFi uses cryptocurrencies and smart contracts to provide financial services to eliminate the need for intermediaries such as guarantors. Such services include lending (where users can lend out their cryptocurrency and earn interest in minutes rather than once a month), receiving a loan instantly, making peer-to-peer trades without a broker, saving cryptocurrency and earning a better interest rate than from a bank, and buying derivatives such as stock options and futures contracts.

I like the idea of smart contracts and decentralized finance because when using this technology, everything is transparent, all transactions can be tracked - and there is no bureaucracy. Of course, until large banks have implemented smart contracts))) But it's so convenient! And most importantly, you can earn money at home, on a trip, anywhere! Now I am satisfied that my money is staked in The Key project and I can track my cash flows, conveniently deposit and withdraw funds.

 

[sonneyekpo]

Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?































































































































































































































































































































































































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Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?

Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?

This is a welcome development, please through more light on the topic.
Thank you

 

[chandrama]

Decentralized finance, or DeFi for short, is a financial system built on top of blockchain technology that enables the creation of decentralized, open-source financial applications. Unlike traditional finance, which relies on centralized institutions like banks and governments, DeFi uses blockchain technology to create a trustless, transparent, and decentralized ecosystem for financial transactions.

The key advantage of DeFi is that it allows for greater accessibility and inclusivity, as anyone with an internet connection can participate in the system without the need for intermediaries or gatekeepers. Additionally, DeFi platforms offer a wide range of financial services such as lending, borrowing, trading, and insurance, often with lower fees and higher returns than traditional financial institutions.

DeFi is still a relatively new field, but it is growing rapidly, with the total value locked in DeFi protocols reaching over 20 billion USD at the end of 2020. Some of the most popular DeFi protocols include MakerDAO, Compound, Uniswap, and Aave, which offer services such as lending, borrowing, and trading of cryptocurrencies.

Overall, Decentralized finance allows for more transparency and accessibility in the financial world, and has the potential to democratize access to financial services. As blockchain technology continues to evolve, we can expect to see more developments and new use cases in the DeFi space.

 

[Margery]

Decentralized Finance (DeFi) is a new financial management model based on the use of cryptocurrency, blockchain technology and distributed ledger systems to provide all kinds of financial services. It uses the power of the blockchain to achieve goals of improving transparency, security, performance, and protecting the rights of investors. Users, not banks, are at the center of decentralized finance, and a distributed infrastructure is used.

 

[Margery]

Decentralized Finance (DeFi) is an exciting and rapidly evolving area of the cryptocurrency industry that has the potential to revolutionize the way we think about traditional finance. By using blockchain technology and distributed ledger systems, DeFi offers a range of financial services that are accessible to anyone, regardless of their location or wealth.

But with such Decentralized Finance (DeFi), it is also worth working carefully! Under any more or less good project, there are always up to 10 fraudulent ones. Moreover, Decentralized Finance (DeFi) is a fairly new direction and it is sometimes quite difficult to fully understand its structure in which funds are invested.