โ๏ธ๐โก๏ธ Is DeFi the Future of Finance?
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The bright future of DeFi, a stunning technology that has transformed the crypto industry from grass to grace, is here.
๐ฐ How often have you looked at the newest business or financial news in the last 12 months to discover the media focused on bitcoin's price fluctuations? Cyber currencies have dominated the conversation concerning the future of Finance. But something else is happening, mostly unnoticed, that is deeper and is beginning to influence the entire financial system. It is the rise of DeFi or Decentralized Finance.
๐ "With more institutional investors entering the DeFi industry, the market is predicted to rise to $800 billion in 2022".ย
๐ฐ Things changeโฏquickly in the cryptocurrency sector, and Decentralized Finance is a current trend - it's an exciting place to be. If you're still unfamiliar with DeFi, let's dive deeper and discover more about it.ย
What is Defi-Decentralized Finance?
๐ฐ Decentralized Finance (DeFi) is a financial system that operates on a network of computers rather than a single server. DeFi is a new digital financial infrastructure that eliminates the need for a central bank or government agency to authorize financial transactions.
๐ฐ DeFi is inextricably linked with blockchain, the Decentralized, immutable public ledger on which Bitcoin is based, which allows all computers (or nodes) on a network to keep a copy of the transaction history. The concept is that no single entity has control over or can alter the transaction ledger.
#Binance #Binancefeed #DeFiChallenge
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