Decentralized Finance Research Paper: Exploring The Future Of Financial Systems
Decentralized finance, commonly known as DeFi, has gained significant attention in recent years. It offers a revolutionary approach to traditional financial systems by leveraging blockchain technology and smart contracts to create a more open and inclusive financial ecosystem. This article delves into the world of DeFi, exploring its potential, challenges, and the key elements that drive its growth. UNDERSTANDING DECENTRALIZED FINANCE Decentralized finance refers to a system where financial transactions and services are conducted on decentralized platforms built on blockchain technology. Unlike traditional finance, which relies on intermediaries such as banks and regulators, DeFi aims to provide financial services directly to users without the need for intermediaries. The Advantages of Decentralized Finance ACCESSIBILITY AND INCLUSIVITY DeFi opens up financial services to anyone with an internet connection and a digital wallet. It removes the barriers associated with traditional f...