What Is DeFi?

Decentralized Finance, also known as DeFi, is a type of financial system that operates on blockchain technology without the need for intermediaries like brokerages, exchanges, or banks. In DeFi, transactions are facilitated through software written on the blockchain, allowing individuals to directly interact with each other or use software as a middleman, instead of relying on traditional companies or institutions. This peer-to-peer approach enables greater control and transparency in financial interactions.