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
BitLicense
Refers to the business license issued by the New York State Department of Financial Services (NYSDFS) to companies dealing with Cryptocurrencies (subject to certain exceptions) in New York.
Turing-Complete
A "turing complete" code or blockchain refers to the ability to read program-written codes.
Whitepaper
An introductory paper to consicely explain an issue and a possible solution on the issue.
zkOracle
A zkOracle is an advanced concept in blockchain technology that combines the properties of oracles with the principles of zero-knowledge proofs.
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