Defi-101 for Newbies

Defi-101 for Newbies

Profile Image Of merto4141 merto4141

  9th, December 2020 (4 months ago)

Cryptocurrency

My own article from Uptrennd platfrom

What is De-Fi?

De-Fi is a short version of Decentralized Finance for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

Most of De-Fi project running under Ethereum blockchain. Which provides security, transparency and user friendly services to maintain on it. Ethereum the world’s second-largest cryptocurrency platform, which sets itself apart from the Bitcoin platform in that it’s easier to use to build other types of decentralized applications beyond simple transactions.


The most popular types of DeFi applications include:

Decentralized exchanges (DEXs): Crypto Exchange without any high authority to make decisions. Users that use that Exchange have rights to vote for decisions for further plans.

Example-> Uniswap, Justswap, etc.

Yield farming: For knowledgeable traders who are willing to take on risk, there's yield farming, where users scan through various DeFi tokens in search of opportunities for larger returns.

Liquidity mining: When DeFi applications entice users to their platform by giving them free tokens. This has been the buzziest form of yield farming yet.

Lending platforms: These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle.



















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Profile Image Of thuyeuem   thuyeuem

  4 months ago

nice

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