Decentralized Finance (DeFi) is a term that refers to alternative financial systems that are built on blockchain technology and cryptocurrencies.

Key Principles of DeFi

• Decentralized: Uses smart contracts and operates without a central authority.
• Peer-to-peer (P2P): Transactions can be made directly between users.
• Accessibility: Anyone with an internet connection can access DeFi platforms, regardless of location or financial status.
• Automation: Smart contracts handle transactions between users, reducing the need for manual intervention.