DeFi
Trustless financial protocols
DeFi stands for decentralized finance, a system of financial services built on blockchain technology that operates without traditional intermediaries like banks or brokerages.
DeFi platforms enable lending, borrowing, trading, and earning interest through smart contracts: She moved her savings into DeFi protocols.
The term emerged in the late 2010s with the growth of Ethereum-based applications. (Lowercase defi is occasionally seen as informal abbreviation.)
blockchain
Cryptographic linked transaction record
- decentralizedLacking single authority
- protocolPrescribed conduct rules
- smart contractSelf-enforcing coded agreement
yield · liquidity · staking · wallet · token · swap · Ethereum · lending · borrowing · governance
- cryptoBitcoin, Ethereum, blockchain, cryptocurrency, tokens
- digital economye-commerce, digital payments, online shopping, digital marketplace, digital markets
- fintechfintech, mobile banking, digital wallet, mobile payment, digital wallets
- alternative financecrowdfunding, microfinance, microlending, peer-to-peer lending, angel investing
- Business AcronymsSKU, UPC, CEO, COO, POS
- disruptorsUber, disruptor, Airbnb, disruption, Netflix
financial system architecture
DeFiWall Street
American finance hub
banks · commercial banking · retail banking · banking system · investment banks