What is decentralized exchange (DEX) on the blockchain? What does DeFi mean in the blockchain?
A decentralized exchange (DEX) on the blockchain is a decentralized trading prot
A decentralized exchange (DEX) on the blockchain is a decentralized trading protocol composed of multiple projects that form a distributed network. It is a peer-to-peer database system (DBC) built on the Bitcoin blockchain, which achieves decentralization and anonymity by encrypting and managing various digital assets in a distributed manner. Additionally, it can support various token types including BTC, ETH, decentralized exchanges, and liquidity providers. DEX is an open-source solution that allows every user to create their own wallet application.
What does DeFi mean in the blockchain?
In the blockchain, DeFi, also known as “Decentralized Finance,” is a new paradigm that combines blockchain technology with decentralized applications. It mainly addresses trust issues and efficiency problems, while decentralized systems enable people to perform transactions, lending, financing, and other operations.
On Ethereum, smart contracts have become a common concept: anyone can create their own smart contract or use various cryptocurrencies as collateral to obtain loans. DeFi is actually a new type of financial service similar to traditional banking.
This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/60202.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.