Cryptocurrency Q&A
What does DeFi stand for?
What does DeFi stand for?
GyeongjuGloryDays
Thu Oct 31 2024
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7 answers
861
DeFi stands for Decentralized Finance, which refers to various decentralized protocols built on blockchain networks, mainly the Ethereum network. These protocols aim to construct an open financial system with transparency, accessibility, and inclusivity, replacing traditional financial intermediaries with smart contracts.
7 answers
mia_rose_painter
Sat Nov 02 2024
This financial model operates without the need for traditional intermediaries.
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CryptoTamer
Sat Nov 02 2024
There is no requirement for a third-party to oversee or manage these activities.
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SamuraiBrave
Sat Nov 02 2024
Simple transfers can be executed seamlessly through DeFi platforms.
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Chloe_thompson_artist
Sat Nov 02 2024
Complex financial functions are also supported within this decentralized ecosystem.
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Elena
Sat Nov 02 2024
Transactions are facilitated directly between users.
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