Cryptocurrency Q&A
How does the DeFi work?
How does the DeFi work?
Federica
Thu Oct 24 2024
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6
answers
1174
I'm interested in understanding the mechanisms behind DeFi. Could someone explain how it operates and what are its main components?
6 answers
Stardust
Sat Oct 26 2024
DeFi operates by leveraging smart contracts and cryptocurrencies to deliver services in a manner that obviates the need for intermediaries.
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GeishaCharming
Sat Oct 26 2024
In the traditional financial landscape, financial institutions serve as guarantors of transactions, ensuring trust and security among parties.
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CryptoVisionary
Sat Oct 26 2024
However, in the realm of decentralised finance, smart contracts take on this role, facilitating transactions in a peer-to-peer manner.
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SolitudeSeeker
Fri Oct 25 2024
Smart contracts are automated and self-executing, enabling transactions to occur seamlessly and efficiently without human intervention.
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Michele
Fri Oct 25 2024
This shift towards decentralisation allows for greater transparency and reduced costs, as intermediaries are eliminated from the process.
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