Decentralized Finance Explained
Decentralized Finance is a peer-to-peer service in a blockchain network, primarily Ethereum. A blockchain that includes a cryptocurrency essentially is public ledger that stores digital assets.
Decentralized Finance is a peer-to-peer service in a blockchain network, primarily Ethereum. A blockchain that includes a cryptocurrency essentially is public ledger that stores digital assets.
Non-fungible tokens represent a unique cryptographic asset that is immutable in nature and takes a digital form to a physical asset, meaning it can’t be plagiarized.
Web3 Applications known as Decentralized applications(dApps) operate autonoumosly through the use of smart contracts which consists of functions and states that when triggered an action takes place, they run on public blockchain networks such as Celo, NEAR and Polkadot.
A decentralized application (dApp) is a digital application or a program that resides and executes on a blockchain or a peer-to-peer network of computers rather than a single computer and it's independent of anyone's authority's control.
A decentralized autonomous organization is essentially an online company that operates according to the rules written in code known as a smart contract. Think of it as a traditional company minus the hierarchical control structure.
Smart contracts are tamper-proof programmes that runs on a blockchain network when certain pre-defined conditions are met.