DeFi, or decentralized finance, is a relatively new concept that is gaining popularity in the cryptocurrency space. Unlike traditional finance, which relies on centralized institutions such as banks, DeFi operates on a decentralized network of blockchain technology. This allows for greater accessibility, transparency, and security in financial transactions.

One of the key features of DeFi is the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This eliminates the need for intermediaries, such as banks or lawyers, and allows for faster and more efficient transactions.

DeFi offers a wide range of financial services, including lending, borrowing, trading, and investing, all without the need for a middleman. Users can access these services directly from their wallets, using various decentralized platforms like Uniswap, Compound, or Aave.

Overall, DeFi is changing the way we think about finance and opening up new opportunities for individuals to participate in the global economy.#25#