Decentralized Finance (DeFi)
By CoinGecko | Updated on Mar 03, 2020
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
DeFi applications cover many use cases and a few popular ones are stablecoins, lending/borrowing and trading (decentralized excanges). By removing the middleman in systems, DeFi applications are able to achieve a better rate of returns for its users, while lowering barrier of entry as the application does not discriminate or censor any particular party from joining.
Related Terms
Altcoin
Coins althernative to Bitcoin
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Dutch Auction
A Dutch Auction, also know as an "inverted" auction, starts off with high asking price that decays over time until a pre-determined floor price.
Miners
Contributors to a blockchain taking part in the process of mining.
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