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Defi series Part 4
Advantages and Disadvantages of DeFi
As we've already discussed in the previous teachings, DeFi offers a lot of advantages such as transparency, interoperability, decentralisation, free for all services, and flexible user experience,
Defi series Part 4
Advantages and Disadvantages of DeFi
As we've already discussed in the previous teachings, DeFi offers a lot of advantages such as transparency, interoperability, decentralisation, free for all services, and flexible user experience,
to name just a few. However there are also some risks you should be aware of.
The most important risk is that DeFi is still new and in its infancy and this means that things can go wrong.
The most important risk is that DeFi is still new and in its infancy and this means that things can go wrong.
Smart contracts have had issues in the past where people didn’t define the rules for certainservices correctly and hackers found creative ways to exploit existing loopholes in order to
steal money. Bugs in smart contracts and protocol changes can also affect
steal money. Bugs in smart contracts and protocol changes can also affect
UNDERSTANDING DEFI WITH
CHRIS ANI
(A Series)
OUTLINE:
- Intro
- What is CeFi & DeFi
- The Pillars/Components of DeFi
- Advantages and Disadvantages of DeFi
- How to Make Money with DeFi
#DeFiwithChrisAni
Are we ready ?
Let's Go
A thread
CHRIS ANI
(A Series)
OUTLINE:
- Intro
- What is CeFi & DeFi
- The Pillars/Components of DeFi
- Advantages and Disadvantages of DeFi
- How to Make Money with DeFi
#DeFiwithChrisAni
Are we ready ?
Let's Go
A thread
Introduction here
What is CeFi & DeFi ?
To get a full understanding of what CeFi and DeFi is, one needs to understand what makes
up a financial system.
A financial system is made up of various services like money transfers (sending money to
one another), loans, saving plans, insurance,
To get a full understanding of what CeFi and DeFi is, one needs to understand what makes
up a financial system.
A financial system is made up of various services like money transfers (sending money to
one another), loans, saving plans, insurance,
UNDERSTANDING DEFI
Evolution has always been one of the ways of surviving. Technology has driven the rate of evolution rapidly such that if you do not adapt to the new change, you may either cease to exist or lag behind.
Evolution has always been one of the ways of surviving. Technology has driven the rate of evolution rapidly such that if you do not adapt to the new change, you may either cease to exist or lag behind.
One of the areas that is fast evolving is the financial market. With the onset of Blockchain and decentralisation, the Cryptocurrency market is fast becoming the new money market.
Because of this change, Centralised Financial Services like Traditional Banks can no longer
Because of this change, Centralised Financial Services like Traditional Banks can no longer
keep up with the demands of this market. This led to the creation of Decentralised Financial Services a.k.a. DeFi
What is DeFi?
DeFi is short for “decentralized finance”. It is an umbrella term for Blockchain applications that aim to remove middlemen
What is DeFi?
DeFi is short for “decentralized finance”. It is an umbrella term for Blockchain applications that aim to remove middlemen
