janehar Posted May 18 Share Posted May 18 The decentralized finance sector is a revolutionary domain that is expected to change the complete functionality of the finance world. In a normal financial system, the transaction and other activities are recorded and managed by a wide range of middlemen. This has caused great problems for the users. In order to remove these challenges, the Defi system was introduced. In a Defi system, the middlemen like central authorities, banks, and other financial institutions are replaced by blockchain and smart contracts. Therefore, initiating peer-to-peer transactions between the buyer and the seller. These transactions are done on decentralized exchanges and other platforms. In order for a transaction to take place in a decentralized platform, the integration of a DeFi crypto wallet is required. These transactions are done for the trading of cryptocurrencies. These cryptocurrencies are stored in a Defi crypto wallet and this wallet is used for the trading, buying, and selling of the cryptocurrencies. Therefore, allowing a wide range of users enters the platform. There are various types of crypto wallets. These wallets are chosen upon the requirements of the digital platform. Quote Link to comment Share on other sites More sharing options...
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