Decentralized Finance (DeFi)
Beginner
Glossary
Nov 8, 2023
3 min read
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Introduction to Decentralized Finance (DeFi)
In a world where financial transactions are predominantly controlled by central institutions, Decentralized Finance, or DeFi, emerges as a beacon of innovation and autonomy. DeFi, at its core, is a revolutionary concept that leverages blockchain technology to facilitate financial transactions without the need for intermediaries.
The Blockchain Backbone
Understanding DeFi begins with comprehending the blockchain, the technology that underpins it. Blockchain is a distributed ledger that records transactions across multiple computers, ensuring transparency and security.