How does decentralized finance work?

Decentralized finance eliminates intermediaries by allowing people, merchants, and businesses to conduct financial transactions through emerging technology . This is accomplished through peer-to-peer financial networks that use security protocols, connectivity, software, and hardware advancements.

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What is DeFi coin?

A DeFi coin is much like a digital version of a fiat coin — it transfers value in the course of a financial transaction. DeFi coins are built on and often named for their unique, native blockchain networks. In spring 2021, Maker, Compound, Uniswap, Aave, Chainlink, and Ankr are among the most popular DeFi coins.

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What is a DeFi platform?

DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts . DeFi uses a layered architecture and highly composable building blocks.

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What is DEX mean in crypto?

Decentralized crypto exchanges (DEXs) are blockchain-based apps that coordinate large-scale trading of crypto assets between many users. They do that entirely through automated algorithms, instead of the conventional approach of acting as financial intermediary between buyers and sellers.

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