The Decentralized Finance Beginner’s Guide

To begin, it’s crucial to note that DeFi is a relatively new word that is only now gaining traction. This means that DeFi, an abbreviation for decentralized finance, lacks a precise definition.

What is DEFI

Decentralized Finance (also known as DeFi) is a blockchain-based type of finance that does not rely on traditional financial intermediaries like brokerages, exchanges, or banks to provide traditional financial instruments, relying instead on smart contracts on blockchains like Ethereum.