Introduction The financial world is witnessing a groundbreaking transformation: Decentralized Finance (DeFi) . Built on blockchain technology, DeFi offers financial services like lending, borrowing, trading, and more—without traditional banks or intermediaries. This shift opens doors for millions worldwide to access finance freely, quickly, and securely. Here’s a closer look at DeFi’s impact in 2024 and what’s fueling its popularity. What is DeFi? DeFi, short for Decentralized Finance, enables financial transactions through smart contracts —automated programs on blockchain networks like Ethereum and Solana . Unlike traditional finance, these smart contracts work independently, ensuring transactions are secure and transparent. Here are some core elements: Smart Contracts: Automated and transparent, they reduce the need for third-party institutions, cutting transaction costs. Decentralized Exchanges (DEXs): Platforms like Uniswap and PancakeSwap allow users to trade assets directly ...
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