DeFi is the acronym of Decentralized Finance. It is a technology that allows crypto entrepreneurs to rebuild traditional financial instruments in a decentralized structure that is not under the control of any company or government.
Bitcoin and Ethereum are original DeFi units that are not connected to any center. Both are very good investment tools. Bitcoin is seen as the gold of cryptocurrencies for many investors, while Ethereum is an important financial instrument for the business world.
Innovations of DeFi
With these decentralized systems that come with Bitcoin, our lives are getting easier and DeFi technology plays an important role in the evolution of the financial sector. DeFi facilitates the functionality and transfer of money.
Open Source Code
All developments for DeFi are open source and can be seen by everyone. Thus, everyone can check the reliability and functionality of this technology.
DeFi technologies are built on blockchains such as Ethereum. For this reason, all transactions made with DeFi applications can be viewed by everyone. The accounts here are not registered directly to a personal name but are listed as anonymized linked to addresses made by numbers.
Anyone can start using DeFi apps by owning a smartphone and downloading the DeFi app. You don't need a bank account to use the DeFi app. So it can be used even for people who still don't have a bank account.
All your financial transactions are carried out on the blockchain within the DeFi system without getting permission from any center.
As our lives evolve with new decentralized structures, interest in DeFi will increase in the future. While the financial world is rapidly shaping in this direction, DeFi is already giving us signals of how the future will be.