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Today i want to draw everyone's attention towards a new trend in cryptocurrency which is called DEFI an abbreviation of "Decentralized Finance".The growth in the market of Defi in 2019 was considered as one of the biggest growth in crypto,its 2020 and defi is still a trend.
Or in short you can say that defi is a use of blockchain technology.
FEW BASIC THINGS ABOUT DEFI
Decentralized finance means alot for cryptocurrency.As it promises a lot faster,inclusive and transparent financial system
In 2018 it gained it's first traction.It is a new finance system which is built on people's/public blockchain.The experts predicts that this can be a huge thing in finance.👀
It aims to reconstruct the whole banking system of the world to open and permissionless system.
Defi D-apps
Everyone knows that etherium and bitcoin are two only original applications of Defi.
Most of the people use bitcoin(gold) for a bigger investment on the other hand etherium is a bit more controversial and a non helping for beginners.
People are rushing more towards new defi Dapplications as it saves their business and their time.
There are alot of things common in defi Dapps such as it is open source which means that the coding is made public..One of the most important thing Transparencyand a lot of other things..
Basically it cuts out intervention of humans and replaces it with a smart system.
Decentralized Finance Future
Now lets talk about it's future.There is a very bright future of decentralized finance.It can make huge changes in the currency world as experts are predicting that in coming days these new defi dapps can set a new standard for economy.
So here i would like to end my view on decentralized finance.There might be some mistakes as i am new in crypto world.
I hope you all will help through your feedback on my post.
Thanks.