What role does web3 play in decentralized finance (DeFi)?

3 answers

• Dec 15, 2021 · 3 years ago
  Web3 plays a crucial role in decentralized finance (DeFi) by providing a decentralized infrastructure for financial transactions and applications. It enables users to interact with DeFi platforms directly, without the need for intermediaries like banks. This decentralized nature ensures transparency, security, and censorship resistance. With web3, users have full control over their funds and can participate in various DeFi activities such as lending, borrowing, and trading with ease.
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• Dec 15, 2021 · 3 years ago
  Web3 is like the backbone of decentralized finance (DeFi). It leverages blockchain technology to create a trustless and open financial ecosystem. By using web3, DeFi platforms can offer smart contracts, decentralized exchanges, and other financial services that are accessible to anyone with an internet connection. This technology eliminates the need for traditional financial institutions and allows for greater financial inclusion and innovation.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, recognizes the importance of web3 in the world of decentralized finance (DeFi). With web3, BYDFi is able to provide its users with a secure and transparent platform for trading and investing in various DeFi assets. The integration of web3 technology ensures that users have full control over their funds and can participate in the growing DeFi ecosystem with confidence.
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