Decentralized Finance (DeFi) refers to a growing ecosystem of financial applications built on blockchain technology that aim to provide financial services in a decentralized and trustless manner. DeFi aims to displace traditional centralized finance intermediaries, such as banks and financial institutions, with a transparent, secure and accessible alternative.
DeFi includes a wide range of financial products and services, such as lending and borrowing, trading, insurance, and more. These applications are built on blockchain technology, providing users with greater security, transparency and accessibility, as well as lower fees and barriers to entry.
The goal of DeFi is to provide financial services that are more accessible, secure, and transparent than traditional financial services. By leveraging blockchain technology, DeFi has the potential to empower people who are traditionally underbanked or excluded from traditional financial systems, and to provide a more democratized and accessible financial ecosystem.