DeFi is a broad term that encompasses a range of financial services that operate on public blockchains, with Ethereum being the primary network of choice. With DeFi, users can access many of the same services provided by traditional banks, including borrowing, lending, buying insurance, trading derivatives and assets, and more. The beauty of DeFi lies in its peer-to-peer nature, fast transaction processing times, and minimal paperwork requirements, eliminating the need for intermediaries.
