DeFi, or decentralized finance, refers to a broad category of financial applications #OFN in cryptocurrency or blockchain geared toward disrupting financial intermediaries. Here are some key aspects of #DeFi

Decentralization**: Unlike traditional finance, which relies on centralized authorities #trade2earna (like banks and brokers), DeFi operates on decentralized networks, primarily Ethereum. Smart contracts automate transactions, reducing the need for intermediaries #OpenfabricAI

*Smart Contracts**: These are self-executing contracts with the terms of the agreement directly written into code. They facilitate, verify, and enforce the negotiation or performance of a contract, allowing for trustless transactions. #binancesquare