What is Defi?

DeFi is an emerging financial technology that leverages block chain and cryptocurrencies to transform traditional financial systems. Unlike centralized institutions such as banks and brokerages, DeFi operates through peer-to-peer transactions, eliminating intermediaries. Key components include cryptocurrencies, block chain technology, and software that enable secure financial interactions. DeFi aims to empower individuals by granting true ownership of digital assets, using smart contracts to facilitate transactions. While still in its early stages, DeFi faces challenges related to security and programming. Its potential lies in reshaping the financial landscape toward decentralization and transparency.