How does Decentralized Finance (DeFi) work?

How does Decentralized Finance (DeFi) work?

10 November 2022
Views: 16
Id: 19144
  • Report
    Report This Listing
    Login Required
  • Download
  • Print
  • Bookmark
  • Share
    Share This Listing

Decentralized finance uses the same blockchain technology used in cryptocurrencies. Blockchain is a secure and distributed ledger or database.

A Smart Contract is an Ethereum account that can hold funds and deposit/repurchase them based on predefined criteria. A smart contract in DeFi will replace the financial institution in the transaction. No one can modify the smart contract after it is live; it will still work as programmed.

For example, a allowance distribution contract could be coded to transfer funds from account Y to account Z only if account Y has the required amount.

Read More:

Contact Information
Address: Vorphy, Lohia Road, A Block, Sector 63, Noida, Uttar Pradesh, India, India,
Listing Tags:      
Map View

Post New Review

Related Listings
Shedule a Test Drive
[dhvc_form id="2578"]
Apply For TradeIn With Us
[dhvc_form id="2578"]
Send Your Offer
Send Message