DeFi (Decentralized finance): The Ultimate Beginner's Guide
What is DeFi ? Short for Decentralized Finance, DeFi is a global term for peer to peer financial services on public blockchains, primarily Ethereum.
From lending to borrowing money to trading the digital assets, DeFi applications allows you to do everything.
The ultimate GOAL of DeFi is to create a financial system that is open to everyone and doesn't require the trust of centralized parties, like banks or government.
DeFi follows blockchain technology and smart contracts. Smart contracts are the application that are stored on the blockchain and execute depending on the functions defined in code.
The backbone of DeFi Smart contracts contain important properties that make them inherently trustworthy. The transparency and openness gives the potential reach to DeFi.
How to get started in DeFi ? - using Automated Market Makers (AMM) - using and staking stable coins. - participating in lending and borrowing.
DeFi in Real World - creation of monetary banking services - derivatives and tokenization platforms - Decentralized exchanges - Asset management -Borderless Finance
Future of DeFi DeFi's potential applications are futuristic and developers are enthusiastic in achieving solutions. Atomic swaps and Stablecoins are intent on achieving the goals.
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