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What is DeFi and how it can change the world forever?

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James Donald
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Decentralized Finance applications are built on immutable blockchain networks and operate on smart contracts and Dapps. It acts as an alternative to the traditional financial system by not depending on any intermediaries. 

 

The many projects supported by Decentralized Finance are lending and borrowing platforms, staking platforms, yield farming platforms, market-making consulting, DeFi insurance systems, decentralized exchanges, DeFi token development, decentralized fund management, and decentralized banking services. 

 

The main features of Decentralized Finance are it is trustless, permissionless, ensures equitable access without any economic or social discrimination, users are given full control over their funds without needing to hand it over to anyone, highly immutable, facilitates peer to peer transactions, and is interoperable as two different applications can seamlessly interact with each other. 

 

The plethora of advantages offered by Decentralized Finance are maintenance of a greater level of transparency, complete autonomy, absence of third parties in the system which improved efficiency and reduces overhead costs, improved pace of settlement of funds, an increase in ROI, no chance of data breaches, easy cross-border transfer of money like remittances, offers global access, and is highly resistant to transaction censorship performed by authorities. 

 

Hence, embark on this new and exciting revolution and team up with a renowned Decentralized Finance development company soon. 

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James Donald
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