Paulo Okellyansy

Understanding DeFi DeFi, or Decentralized Finance, leverages blockchain technology to offer financial services without traditional intermediaries like banks. This innovation creates a more open and accessible financial system. DeFi platforms use smart contracts to automate transactions, removing the need for centralized control. Key Components Benefits of DeFi DeFi offers several attractive advantages: DeFi’s transformative potential

Understanding DeFi DeFi, short for Decentralized Finance, uses blockchain technology to recreate and enhance traditional financial systems. It operates using smart contracts on blockchain platforms like Ethereum, which automate and enforce transparent transactions without intermediaries. Users can access financial services such as lending, borrowing, trading, and investing through decentralized applications (dApps). In traditional finance, intermediaries

Understanding Smart Contracts Smart contracts are self-executing contracts with terms written in code. They automate transactions and enforce agreements within the blockchain network. What Are Smart Contracts? Smart contracts hold code and data embedded into the blockchain. They define conditions and actions automatically executed when predefined conditions meet. For instance, in a decentralized lending platform,

Overview of DeFi in 2023 2023 saw significant advancements in Decentralized Finance (DeFi). Blockchain technology empowered decentralized applications (dApps), expanding user base and total value locked (TVL). Ethereum continued to lead the DeFi ecosystem, but other blockchains like Binance Smart Chain (BSC) and Solana gained traction. Users were attracted by cheaper transaction fees and faster