DeFi stands for Decentralised Finance and is a term used to describe a new type of financial system that operates on decentralized blockchain networks. In DeFi, there is no central authority or intermediary; instead, financial transactions are conducted using Blockchain Smart Contracts - self-executing codes that automatically execute predefined terms and conditions. DeFi platforms enable various financial activities like lending, borrowing, trading, and earning interest, all without the need for a middleman.

https://www.dbm.academy/faq for more blockchain vocabulary

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