Review:
Decentralized Finance (defi)
overall review score: 4.5
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score is between 0 and 5
Decentralized finance (DeFi) refers to the ecosystem of financial applications and services built on blockchain technology that operate without central authorities.
Key Features
- Decentralization
- Smart contracts
- Open access
- Interoperability
Pros
- Eliminates middlemen and reduces costs
- Accessible to anyone with an internet connection
- Enhances financial inclusivity
Cons
- High risk due to smart contract vulnerabilities
- Regulatory uncertainty
- Limited scalability