A subsector of the cryptocurrency and blockchain industry that aims to provide a decentralized version of mainstream financial opportunities is known as decentralized finance (DeFi).Customers in the mainstream world have access to options like loans and cash storage through financial institutions.However, centralized entities control these offerings.
DeFi solutions provide a number of the same opportunities with the assistance of distributed ledger technology, or DLT. However, they are controlled by a large number of participants who adhere to smart contract rules.Additionally, DeFi solutions frequently offer users more control over their own asset storage and management options.Contrary to trading on centralized digital asset platforms, decentralized exchanges, or DEXs, further decentralize digital asset trading.
