Decentralised Finance [DeFi] Growth in 2021

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INVESTING

• DECENTRALISED FINANCE DEFI GROWTH IN 2021

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INTRODUCTION ABOUT THE DEFI AND ITS GROWTH
DeFi lays the best foundation for new financial
opportunities. DeFi instruments make the
cryptocurrency and blockchain sector accomplish
what was only possible in traditional banks or
money markets. The DeFi tokens like Compound and
Balancer provide services like borrowing and
lending to operate in a decentralized ecosystem.
Hence it results in a digital currency boom.
DeFi tokens have locked over 20 billion in
digital assets. In the past year, DeFi coins
have outperformed BTC (Bitcoin).
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OW DECENTRALISED FINANCE (DEFI) RUNS?
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• Some of the primary technologies of DeFi are
  Blockchain and cryptocurrency. One of the main
  advantages of DeFi
• applications is that,
• Advantages of Decentralised Finance (DeFi)
• In traditional banking, every transaction is
  recorded in a private ledger, Where every
  transaction is available for a company or
  organization. However, In the blockchain, it is a
  decentralized, public ledger. Where every
  financial transaction is available on a computer.
• Where blockchain technology is decentralized.
  That means all the parties in the DeFi
  applications can have a copy of the public
  ledger, Which secures the DeFi application by
  providing users with anonymity, a record of
  asset ownership. It makes the application
  impossible to
• hack.

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WHAT IS A PUBLIC LEDGER?
A public ledger is a place where every
transaction is available in an encrypted code. 3)
Primary advantage of blockchain is that it is
decentralized, which means there is no agency or
third-party users involved in maintaining the
DeFi application system. HOW DOES DEFI WORK
NOW? DeFi lays the path for a wide variety of
complex DeFi applications. The majority of the
DeFi applications are available by dapps or
other applications programs called protocols.
These dapps can handle transactions in two major
cryptocurrencies, Bitcoin and Ethereum.
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• Ethereum is one of the popular cryptocurrencies
  in DeFi since it is adaptable for DeFi
  applications. Here are the some of ways that
  DeFi applications are available right now,
• Decentralised Exchanges DEXs
• e-Wallets
• Stable Coins
• NFTs Non-Fungible Tokens
• Flash loans
• Traditional financial transaction

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HOW TO WORK WITH DEFI?
If you are looking to get involved with DeFi,
Here are some ways to get started, they are, GET
AN ETHEREUM WALLET The first thing in DeFi is
to set up an Ethereum wallet like Metamask. The
Ethereum wallet is the gateway to step into the
world of Decentralised Finance. TRADE DIGITAL
ASSETS You can trade digital assets in
decentralized exchange using DecentFi. By
DecentFi, a user can earn passive income,
transfer digital assets, affiliate rewards, etc.
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TO KNOW MORE ABOUT DEFI
Website www.decentfi.io/ Facebook DecentFi.io/ T
witter decentfi_io/