DeFi, short for Decentralized Finance, is a new way of doing financial activities—like lending, borrowing, saving, and trading—without using banks or traditional financial institutions.
Instead, DeFi uses blockchain technology, mainly on networks like Ethereum, to run smart contracts that automatically handle transactions. These smart contracts are open-source, transparent, and don’t need a middleman.
Key Features of DeFi:
No banks or brokers involved
Anyone with internet and a crypto wallet can use it
Runs on smart contracts (automated programs)
Open and global access, 24/7
You stay in control of your money
