Tag: Ethereum applications

The banking and financial industry is amidst a transformative phase with the advent of decentralized finance, commonly known as DeFi. With the disruption caused by blockchain technology, DeFi has emerged as an alternative to traditional financial services, offering a spectrum of banking activities from borrowing and lending to asset trading without the need for intermediaries. What is Decentralized Finance (DeFi)? DeFi refers to a financial ecosystem where applications built on blockchain networks enable financial transactions to be executed directly between parties, thus cutting out central financial institutions. Smart contracts, which are...