#OnChainLendingSurge The main differences between On-Chain Lending and Traditional Lending.

To better understand the main differences, let's compare on-chain lending with traditional lending:

#On-Chain Lending (DeFi)

* Decentralized: There are no intermediaries like banks. Transactions occur directly between users, through smart contracts on the blockchain.

* Transparent: All transactions are publicly recorded on the blockchain, increasing transparency and auditability.

* Accessibility: Anyone with a cryptocurrency wallet and an internet connection can participate, regardless of geographic location or credit history.

* Efficiency: Transactions are processed quickly and automatically, without the need for manual approval.

* Flexibility: Allows you to lend and borrow a variety of cryptocurrencies and other digital assets.

* Competitive interest rates: Generally offer higher interest rates for lenders and lower rates for borrowers, compared to traditional banks.#TraditionalLending.

* Centralized: Intermediated by financial institutions (banks, cooperatives, etc.).

* Less transparent: Information about transactions is controlled by financial institutions.

* Accessibility: Requires opening a bank account and may have income and credit requirements.

* Slower: The loan approval process can be slower and more bureaucratic.

* Less flexible: The options for lending and borrowing assets are more limited. $BTC $BNB