{"id":2585,"date":"2021-03-17T12:52:16","date_gmt":"2021-03-17T10:52:16","guid":{"rendered":"https:\/\/walloftraders.com\/blog\/?p=2585"},"modified":"2023-02-08T12:13:15","modified_gmt":"2023-02-08T11:13:15","slug":"what-is-defi-the-decentralized-finance","status":"publish","type":"post","link":"https:\/\/walloftraders.com\/blog\/en\/what-is-defi-the-decentralized-finance\/","title":{"rendered":"What is DeFi? The Decentralized Finance"},"content":{"rendered":"\n<p class=\"has-light-black-color has-text-color\"><strong>DeFi <\/strong>is an acronym for <strong>Decentralized Finance<\/strong>. It is used for <a href=\"https:\/\/walloftraders.com\/blog\/en\/understanding-cryptocurrencies\/\"><strong>Cryptocurrency<\/strong> <\/a>and <strong>Blockchain<\/strong>. The goal is to get rid of financial intermediaries.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-defi-the-decentralized-finance\/#Reminder_Centralized_Finance\" >Reminder: Centralized Finance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-defi-the-decentralized-finance\/#What_is_DeFi_To_remove_the_intermediaries\" >What is DeFi? To remove the intermediaries<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-defi-the-decentralized-finance\/#Smart_Contracts_to_replace_the_human_factor\" >Smart Contracts to replace the human factor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-defi-the-decentralized-finance\/#What_is_DeFi_Dapps_Decentralized_exchanges\" >What is DeFi? Dapps &amp; Decentralized exchanges<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"reminder-centralized-finance\"><span class=\"ez-toc-section\" id=\"Reminder_Centralized_Finance\"><\/span>Reminder: Centralized Finance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-light-black-color has-text-color\">Over the years people have depended on <strong>traditional financial institutions<\/strong> for all transactions. The traditional financial institutions also known as <strong>Centralized financial systems<\/strong> include banks, insurance, stock markets and many other financial institutions that have a central authority that makes decisions for the institution. Centralized financial systems have always required <strong>trust <\/strong>through the reputation of intermediaries and the presence of insurance in case one fails to honor the contract.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/images.assetsdelivery.com\/compings_v2\/ilixe48\/ilixe481910\/ilixe48191000365.jpg\" alt=\"Intermediary between two people groups in centralized finance\"\/><\/figure><\/div>\n\n\n<p class=\"has-light-black-color has-text-color\">Centralized financial systems being under central control whether a company or an individual, <strong>restricts and follows everything happening<\/strong> in the financial market. There may be hidden costs that tend to add extra fees to the users. These centralized financial systems normally use ledger books stored in the traditional way making transactions slow. Corruption and mismanagement of funds around the system of centralized financial systems have been rampant. Government control is very key in running these institutions.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-defi-to-remove-the-intermediaries\"><span class=\"ez-toc-section\" id=\"What_is_DeFi_To_remove_the_intermediaries\"><\/span>What is DeFi? To remove the intermediaries<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-light-black-color has-text-color\"><strong>Decentralized Finance<\/strong> or <strong>DeFi<\/strong>, is a finance system that is free from a central authority. It eliminates intermediaries mostly the traditional financial systems for transactions. Decentralized finance is the solution to the problems that centralized financial institutions have faced. These problems include <strong>the speed<\/strong> of transactions and <strong>the fees<\/strong> required per transaction. Decentralized finance is open to everyone, unlike traditional financial systems that require to meet certain rules.<\/p>\n\n\n\n<p class=\"has-light-black-color has-text-color\">DeFi came <strong>to remove the intermediaries<\/strong> that were a requirement in the financial market. DeFi is <strong>permissionless <\/strong>and <strong>trustless <\/strong>in the financial market. It achieves being permissionless and trustless by heavily depending on cryptography, blockchain system and Smart Contracts.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"smart-contracts-to-replace-the-human-factor\"><span class=\"ez-toc-section\" id=\"Smart_Contracts_to_replace_the_human_factor\"><\/span>Smart Contracts to replace the human factor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-light-black-color has-text-color\"><strong>Smart Contracts<\/strong> are the building blocks in any DeFi transaction. A Smart Contract is a code that is executed automatically when a certain command is made. For example, a command to deduct 10 Ether when someone buys something on the Ethereum blockchain. Being automatic, they are <strong>trustless <\/strong>and <strong>secure<\/strong>, they just execute after a given command. Therefore, they do not need a centralized verification point. Smart Contracts, therefore, can receive, send and store funds. They are replacing the human factor which is prone to mistakes.<\/p>\n\n\n\n<p class=\"has-light-black-color has-text-color\">Smart Contracts use the information on the blockchain, it may also use oracle but all the information has to be trusted before the Smart Contracts can execute anything. They are written in a programming language called <strong>Solidity<\/strong>. Smart Contracts are immutable meaning they cannot be modified once executed.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/images.assetsdelivery.com\/compings_v2\/perfectpixelshunter\/perfectpixelshunter2005\/perfectpixelshunter200500335.jpg\" alt=\"What is DeFi ? smart contract, decentralized finance\"\/><\/figure><\/div>\n\n\n<p class=\"has-light-black-color has-text-color\"><strong>Decentralized finance<\/strong> performs many roles in the decentralized cryptocurrency world. These roles are; <strong>Stable coins<\/strong>, which are normally created with Smart Contracts and incentives. These coins are what are used to make quick payments and they can be converted to fiat money. Stable coins are normally pegged to a dollar without having a real dollar, an example of stable coins is DAI and USDT.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-defi-dapps-decentralized-exchanges\"><span class=\"ez-toc-section\" id=\"What_is_DeFi_Dapps_Decentralized_exchanges\"><\/span>What is DeFi? Dapps &amp; Decentralized exchanges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-light-black-color has-text-color\">Decentralized finance allows <strong>borrowing <\/strong>and <strong>lending<\/strong>. Compound is one of the Dapps that have invested so much in this category. It allows users to supply assets such as Ether and make interest.<\/p>\n\n\n\n<p class=\"has-light-black-color has-text-color\">DeFi is also used for <strong>decentralized exchanges<\/strong>. This is where crypto assets are exchanged in a decentralized and permissionless way without reducing the value of the coin. Such decentralized exchanges can be done on <a href=\"https:\/\/uniswap.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Uniswap<\/a> and Loopring.&nbsp;<\/p>\n\n\n\n<p class=\"has-light-black-color has-text-color\"><strong>Derivatives <\/strong>are contracts that derive their value from the performance of any underlying assets such as gold and silver. Decentralized finance performs this activity with SYTHENTIX as an example of companies offering users exposure to different assets. Oracles are part of the DeFi ecosystem, their role is providing reliable data from the outside world into the Smart Contract. Chainlink is a popular app in Oracle.&nbsp;<\/p>\n\n\n\n<p class=\"has-light-black-color has-text-color\">You can increase your position in a certain asset using <strong>borrowed funds<\/strong>, this is called <strong>margin trading<\/strong>. It is also used in forex trading where a trader uses margin to trade a large position with a small percentage of funds on their account. Decentralized finance does this by apps like Fulcrum. Insurance can also be used on the DeFi ecosystem. They offer a certain guarantee in compensation to users for payment of a premium. They perform similar roles as traditional insurance companies by protecting users from Smart Contracts failures and protecting users\u2019 deposits. Nexus Mutual is a popular Dapp in this category.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p>We hope you like this content about DeFi. Feel free to share it around you and to post a comment.<\/p>\n\n\n\n<p>To learn more about the new trend of NFTs that are part of DeFi, <a href=\"https:\/\/walloftraders.com\/blog\/en\/nft-non-fungible-token-a-unique-cryptocurrency\/\">read this article<\/a>.<\/p>\n\n\n\n<p>You will surely like our other articles on the main information about cryptocurrencies, for example: &#8220;<a href=\"https:\/\/walloftraders.com\/blog\/quest-ce-que-le-minage-de-crypto-monnaie-soyez-recompense\/\"><strong>discovering mining<\/strong><\/a>&#8220;, &#8220;<a href=\"https:\/\/walloftraders.com\/blog\/en\/whales-cryptocurrencies\/\"><strong>understanding what a whale is<\/strong><\/a>&#8220;, &#8220;<a href=\"https:\/\/walloftraders.com\/blog\/en\/what-are-social-tokens\/\"><strong>exploring Social Token<\/strong><\/a>&#8220;, and looking into what is a &#8220;<a href=\"https:\/\/walloftraders.com\/blog\/en\/crypto-tax-havens\/\"><strong>Fiscal paradise<\/strong><\/a>&#8220;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-social-warfare-social-warfare\"><div class=\"swp_social_panel swp_horizontal_panel swp_flat_fresh  swp_default_full_color swp_individual_full_color swp_other_full_color scale-100  scale-\" data-min-width=\"1100\" data-float-color=\"#ffffff\" data-float=\"none\" data-float-mobile=\"none\" data-transition=\"slide\" data-post-id=\"2585\" ><div class=\"nc_tweetContainer swp_share_button swp_twitter\" data-network=\"twitter\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intent\/tweet?text=What+is+DeFi%3F+The+Decentralized+Finance&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F&via=WallOfTraders\" data-link=\"https:\/\/twitter.com\/intent\/tweet?text=What+is+DeFi%3F+The+Decentralized+Finance&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F&via=WallOfTraders\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_twitter_icon\"><\/i><span class=\"swp_share\">Tweet<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_facebook\" data-network=\"facebook\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F\" data-link=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_facebook_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_linkedin\" data-network=\"linkedin\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F\" data-link=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_linkedin_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_pinterest\" data-network=\"pinterest\"><a rel=\"nofollow noreferrer noopener\" class=\"nc_tweet swp_share_link noPop\" href=\"https:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-defi-the-decentralized-finance%2F\" onClick=\"event.preventDefault(); \r\n\t\t\t\t\t\t\tvar e=document.createElement('script');\r\n\t\t\t\t\t\t\te.setAttribute('type','text\/javascript');\r\n\t\t\t\t\t\t\te.setAttribute('charset','UTF-8');\r\n\t\t\t\t\t\t\te.setAttribute('src','\/\/assets.pinterest.com\/js\/pinmarklet.js?r='+Math.random()*99999999);\r\n\t\t\t\t\t\t\tdocument.body.appendChild(e);\r\n\t\t\t\t\t\t\" ><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_pinterest_icon\"><\/i><span class=\"swp_share\">Pin<\/span><\/span><\/span><\/span><\/a><\/div><\/div><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-light-black-color has-text-color\" id=\"block-ccce5d1b-5eaa-49a3-a3b5-e268e6c59212\"><em>This article is not investment advice. Do your own research before investing in the cryptocurrency market.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DeFi is an acronym for Decentralized Finance. It is used for Cryptocurrency and Blockchain. The goal is to get rid of financial intermediaries. Reminder: Centralized Finance Over the years people have depended on traditional financial institutions for all transactions. The traditional financial institutions also known as Centralized financial systems include banks, insurance, stock markets &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"What is DeFi? The Decentralized Finance\" class=\"read-more button\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-defi-the-decentralized-finance\/#more-2585\" aria-label=\"More on What is DeFi? The Decentralized Finance\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":3213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[192],"tags":[],"class_list":["post-2585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is DeFi? The Decentralized Finance<\/title>\n<meta name=\"description\" content=\"What is DeFi? 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