How does DeFi work on the blockchain ecosystem?

submitted 3 years ago by jamesdonald95 to test

The DeFi platform is inherited with decentralized applications (DApps) that boost the overall performance of financial functions using distributed ledger technology. The DeFi was initially introduced to overcome traditional finance systems that provide a slow process of transacting funds. In the blockchain-based DeFi platform, the cryptocurrency exchange or transactions are dealt directly with two parties in the trade market for eliminating centralized intermediary. The DApps on the DeFi platform is accessed using a Web3 enabled application or browser like MetaMask. s