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Decentralized Finance or DeFi is an open sourced, permissionless and transparent ecosystem of financial applications that are built on top of blockchain networks. It is available to everyone and operates without any central authority. Users maintain full control over their assests and interact with this ecosystem through peer-to-peer (P2P), decentralized applications or DApps.
Traditional finance relies on institutions such as banks to act as intermediaries, and courts to provide arbitration.
DeFi applications do not need any intermediaries or arbitrators. The code specifies the resolution of every possible dispute, and the users maintain control over their funds at all times. This reduces the costs associated with providing and using these products and allows for a more frictionless financial system.
As these new financial services are deployed on top of blockchains, single points of failure are eliminated. The data is recorded on the blockchain and spread across thousands of nodes, making censorship or the potential shutdown of a service a complicated undertaking.
Another significant advantage of DeFi is easy access to financial services, especially for those who are isolated from the current financial system. Since the traditional financial system relies on the intermediaries making a profit, their services are typically absent from locations with low-income communities. However, with DeFi, the costs are significantly reduced, and low-income individuals can also benefit from a broader range of financial services.
Some of the Potential Use Cases for DeFi are:
- Borrowing & Lending
- Monetary banking services
- Decentralized Marketplaces
Most of the applications of Decentralized Finance involve the creation and execution of smart contracts. You can learn more about smart contracts in my video on What is a smart contract?
If you liked this video on DeFi, be sure to subscribe to my channel and hit the bell button to be notified of my future videos.
And as always, this is not financial advice, I do not give financial advice, do your own research, I just like to talk about crypto.
#DeFi #BSC #BinanceSmartChain
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https://www.youtube.com/watch?v=qc_lIcgokOk
In this video, we'll be discussing the recent regulatory turf war taking place in the crypto world. We'll be looking at some of the key players involved, and how their actions are affecting the market.
Don't miss our look at the cftc crypto, sec crypto regulation, and binance, coinbase in the battle for crypto regulation! This video is sure to interest anyone interested in the latest news and developments in the crypto world.
#cryptoregulations #binance #coinbase
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https://www.youtube.com/watch?v=j2L45dgCLZo
In this video, we’ll go over the history of bitcoin, some fun facts you may not know about and the correlation between the bull and bear markets within the crypto industry!
Bitcoin was created with the intention of addressing the inefficiencies of traditional financial systems and to provide a new way of making transactions that was faster, cheaper, and more secure. It operates on a decentralized ledger called the blockchain, which records all transactions and ensures that the currency cannot be duplicated or counterfeited. The blockchain is maintained by a network of computers around the world, making it resistant to tampering and censorship.
#bitcoin #btc #crypto
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https://www.youtube.com/watch?v=8zi9XpZiWMY
Binance, the world’s largest crypto exchange platform, is expanding its headcount by 30% by 2023, according to CEO Changpeng Zhao. This comes in contrast to competitor Coinbase, who recently laid off almost 2,000 employees in June 2022, as part of an efficiency strategy to reduce expenses. Binance, however, is looking to grow and expand, with the recent news of Sweden’s regulatory approval making it the seventh European Union nation to be approved. This will allow Swedish citizens to access Binance’s crypto and Web3 services, including deposits, withdrawals, purchases, and trading. Binance aims to be equipped with the right workforce when the market turns upward and to continue the hiring trend of 2022 where they hired over 5,000 employees in that year alone.
#binance #bnb #cz
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https://www.youtube.com/watch?v=CBeDqYwXan8
In this Twitter Spaces interview I interviewed Miro, the founder of Jetswap.finance.
Jetfuel is a Yield Farming, AMM & Lending Ecosystem On BSC & Polygon & FTM
$FUEL | $JETS | $FTS | $GFCE | $WINGS | $pWINGS | $fWINGS
https://twitter.com/Jetfuelfinance
http://t.me/jetfuelfinance
http://jetswap.finance
#jetswap #jetfuel #BSC #Polygon #FTM
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Feel free to donate or leave me a tip at my #BSC Address: 0x9a908DB106003823B289c55D89faC14597e221D1
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https://www.youtube.com/watch?v=ZjXFsTvicUQ