DeFi
DeFi, standing for 'decentralized finance,' encompasses an array of blockchain-based protocols, digital assets, smart contracts, and decentralized applications (dApps). It aims to transform traditional financial services by leveraging blockchain technology, offering an open and accessible financial ecosystem. DeFi enables individuals to perform financial activities such as obtaining loans, lending, trading, and purchasing insurance directly, bypassing traditional financial intermediaries. Essentially, DeFi allows users to manage their finances independently, including earning interest on savings, borrowing, lending, and trading assets, without relying on conventional financial institutions.