Coinbase

DeFi protocols are supporting an array of online marketplaces that allow users to exchange products and services globally and peer-to-peer —everything from freelance coding gigs to digital collectibles to real-world jewelry and apparel.

Like the internet, cryptocurrencies have protocols . Any cryptocurrency – Bitcoin, Ethereum, XRP – has its own distinct protocol. Cryptocurrency protocols only allow the functioning of a few applications – sometimes only the application of the cryptocurrency itself.

Ethereum is a decentralized, open source, and distributed computing platform that enables the creation of smart contracts and decentralized applications , also known as dapps. Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation and performance of some sort of agreement.