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Hy guys am new here .I don't know about this .so I think this platform is very best sit from earnings .

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DeFi isshort for decentralized finance n umberela term  or a verity of financial application in cryptocurrency of blockchain gread towards disrupting financial intermediateDeFi is distinct because it expends +he use of blockchain om simple value transfer to more complex financial more use casses.

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I think that Defi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. ..Defi  is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.

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Defi is a cryptocurrency platform. Defi is short for decentralized finance. It is a great financial applications in crytocurrency. Defi is distinct because it expands the use of blockchain from simple value tranfer to more complex financial.

 

 

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To be honest, I don't have a lot of data about DeFi, yet he is a client on the Ethereum network through a savvy contract that gives any client full independence from the rat race to completely control the symbolic that utilization

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On 8/7/2020 at 6:36 AM, kyoukage01 said:

Recently I have been seeing posts mentioning about DeFi (decentralized finance) and the term is new to me. So I got curious and searched this forum for the question "what is DeFi" and I got 1 result from a post here by @Listing.Help . However, sadly I am not satisfied with the information on the article linked in the post.

 

So I will provide a set of related questions here for you guys to answer. Here they are:

  • What is DeFi? (a more detailed explanation) (SOLVED)
  • When was DeFi created?
  • What is its purpose? (SOLVED)
  • How widespread is its use among Bitcoin and the other coins? (SOLVED)
  • Do we really have an urgent need for it? Why? (Open-ended question)
  • Will it greatly affect the current low-end users of crypto? How? (Open-ended question)

You guys don't have to answer all of them, although I'd like to see them all resolved. Also, I will raise a few more questions as we go on.

 

Too technical answers might fly over my head 😓 , so answers in layman (easy) terms will be greatly appreciated.

 

If you can offer a better answer than the previous replies as well, then feel free to do so.

 

Thank you for your replies.

 

UPDATE: The top answers so far are in this link.

 

On 8/7/2020 at 6:36 AM, kyoukage01 said:

Recently I have been seeing posts mentioning about DeFi (decentralized finance) and the term is new to me. So I got curious and searched this forum for the question "what is DeFi" and I got 1 result from a post here by @Listing.Help . However, sadly I am not satisfied with the information on the article linked in the post.

 

So I will provide a set of related questions here for you guys to answer. Here they are:

  • What is DeFi? (a more detailed explanation) (SOLVED)
  • When was DeFi created?
  • What is its purpose? (SOLVED)
  • How widespread is its use among Bitcoin and the other coins? (SOLVED)
  • Do we really have an urgent need for it? Why? (Open-ended question)
  • Will it greatly affect the current low-end users of crypto? How? (Open-ended question)

You guys don't have to answer all of them, although I'd like to see them all resolved. Also, I will raise a few more questions as we go on.

 

Too technical answers might fly over my head 😓 , so answers in layman (easy) terms will be greatly appreciated.

 

If you can offer a better answer than the previous replies as well, then feel free to do so.

 

Thank you for your replies.

 

UPDATE: The top answers so far are in this link.

 

I will try to answer your question in as simple language as much possible, so that you can understand.

First of all DeFi stands for "decentralized finance".

Actually it is inspired from blockchain, actually in DeFi there is no bridge or central source, like if you have to do any sophisticated transactions then there will be no third party involved in it , which is actually very useful because in contrast to central source/third parties you will have more direct control over your money in DeFi, so you can do simple money transfer to more complex money transfer. So idea of DeFi is often called "open finance".

So this term is used for variety of finantial applications in cryptocurrency, and the most important one is ethereum.

 

When was DeFi created?

Well the term was created in an August 2018, Telegram chat of ETH developers and entrepreneurs, when they were discussing what to  call movement of open financial applications being built on ethereum, so the term comes out as DeFi. It have a vast history but its the most basic one.

Soory ! for not giving answer to every question but the one i have given will be helpful for your understanding.

 

 

 

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