If you’ve heard of Bitcoin, Ethereum, and those quirky meme coins, you’re already halfway into the fascinating world of Web3. You might also know terms like blockchain, smart contracts, and Decentralized Finance (DeFi). But here’s the best part. DeFi is shaking up the banking world in ways we never thought possible. You can read through this link as a non-member.
While the potential of decentralized finance (DeFi) is vast, one of its most exciting innovations is NFT lending. This development has made the system more flexible and user-friendly. However, many individuals still find these concepts somewhat confusing. Recently, I spoke with a friend who was having difficulty understanding the Web3 space. It’s no wonder that according to a 2023 survey, only 24% of people globally are even familiar with the term, Web3.
During our conversation, she mentioned her experience with crypto trading, which sparked a lively discussion. I explained that DeFi, a cornerstone of Web3, allows users to perform functions like traditional banks but with a twist. Think of enhanced capabilities and more freedom.
DeFi is actively reshaping the banking landscape through decentralized applications (dApps). It’s not just about trading; it’s also about lending. This led me to dive deeper into DeFi and highlight how lending has transformed with the…
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