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the three great proposals of the DeFi ecosystem By CoinTelegraph

© Reuters. Uniswap, Polygon, Aave: the three great proposals of the DeFi ecosystem

DeFi is the abbreviation for “Decentralized Finance” or Decentralized Finance, the term refers to the set of applications, protocols and decentralized financial systems of crypto assets and Blockchain technology. With DeFi it is possible to visualize a global financial system that is innovative, inclusive and improves the deficiencies of the current financial system since it has the advantage of a market open 24 hours a day and without a centralized entity, there are also safer, faster and safer operations. cheap.

  • Regulating Uniswap: The Great DeFi Battle

was the first sample of DeFi when it allowed its users to exchange value one by one directly without the intervention of a third party, it took innovation to the next level, its users are able to create smart contracts which gives them the possibility to “program your money”. With Ethereum you can program most financial services:

  • Send money around the world
  • Access stablecoins
  • Borrow secured and unsecured funds
  • Save in cryptocurrencies,
  • Create and sell security tokens,
  • Grow a portfolio
  • Finance ventures
  • Buy insurance

How DeFi works in Ethereum In DeFi, a smart contract has the ability to carry out activities typical of a financial institution, it is a type of Ethereum protocol that can contain funds and send or refund them depending on certain conditions. The smart contract will execute on schedule as long as the conditions are met. We can think of four main elements of DeFi:

Read the full article on Cointelegraph

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