DeFi, or decentralized finance, is a term used to describe a system of financial products and services that operate on a decentralized blockchain network. Unlike traditional finance, which is dominated by centralized institutions like banks and financial intermediaries, DeFi aims to eliminate the need for intermediaries by allowing users to transact directly with each other using smart contracts.

One of the key features of DeFi is its accessibility. Anyone with an internet connection can participate in DeFi, regardless of their location or financial status. This has opened up new opportunities for individuals who were previously excluded from the traditional financial system.

Another benefit of DeFi is its transparency. Because transactions are recorded on a public blockchain, users can easily verify the integrity of the system. This has helped to build trust in DeFi projects and attract a growing number of users.

Overall, DeFi has the potential to revolutionize the financial industry by providing cheaper, faster, and more accessible financial services to users around the world.#25#