DecentralizedDecentralization, an aspect of blockchain technology, facilitates power or authority distribution among individuals, groups, or institutions. A decentralized structure allows... finance (DeFi) refers to a shift towards building financial applications and processes on decentralized infrastructure, enabling peer-to-peer lending, trading, and other financial products and services without censorship or central authorityA central authority is an entity that holds centralized control over something, such as a financial exchange, asset, or transaction..... DeFi platforms can facilitate trustlessA trustless system is one where there is no need for third-party involvement or intermediaries to complete a transaction. Two... smart contracts that offer permissionlessA permissionless blockchain is a distributed ledger that anyone can access and add transactions. There is no need for approval... access to financial services bypassing the need for traditional intermediaries. In addition, by removing the intermediary, DeFi lowers the barrier to entry for users, making it more affordable and non-discriminatory to access financial services.
