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How does Decentralized Finance (DeFi) work?
⌖ Noida, Uttar Pradesh, India · 3 years, 11 months ago · 568 views
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Description
Decentralized finance uses the same blockchain technology used in cryptocurrencies. Blockchain is a secure and distributed ledger or database.
A Smart Contract is an Ethereum account that can hold funds and deposit/repurchase them based on predefined criteria. A smart contract in DeFi will replace the financial institution in the transaction. No one can modify the smart contract after it is live; it will still work as programmed.
For example, a allowance distribution contract could be coded to transfer funds from account Y to account Z only if account Y has the required amount.
Read More: https://vorphy.blogspot.com/2022/11/defi-decentralized-finance-vorphy.html
A Smart Contract is an Ethereum account that can hold funds and deposit/repurchase them based on predefined criteria. A smart contract in DeFi will replace the financial institution in the transaction. No one can modify the smart contract after it is live; it will still work as programmed.
For example, a allowance distribution contract could be coded to transfer funds from account Y to account Z only if account Y has the required amount.
Read More: https://vorphy.blogspot.com/2022/11/defi-decentralized-finance-vorphy.html
Listing details
CategoryServices
SubcategoryWeb Service
CityNoida
State / Province / RegionUttar Pradesh
CountryIndia
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