DeFi: Difference between revisions
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DeFi, short for Decentralized Finance, refers to the ecosystem of [[Glossary#Blockchain|blockchains]], protocols, [[Glossary#Smart Contract|smart contracts]], and [[Glossary#Decentralized Exchange|decentralized exchanges]] built as alternatives to traditional financial services, such as lending, borrowing, and trading. Transactions are typically [[Glossary#Peer-To-Peer|peer-to-peer]] and [[Glossary#Censorship Resistant|censorship resistant]]. | DeFi, short for Decentralized Finance, refers to the ecosystem of [[Glossary#Blockchain|blockchains]], protocols, [[Glossary#Smart Contract|smart contracts]], and [[Glossary#Decentralized Exchange|decentralized exchanges]] built as alternatives to traditional financial services, such as lending, borrowing, and trading. Transactions are typically [[Glossary#Peer-To-Peer|peer-to-peer]] and [[Glossary#Censorship Resistant|censorship resistant]]. | ||
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'''The underlying technology of most cryptocurrency related financial activity is still very new and comes with its own set of risks and hazards, including, but not limited to volatility, regulatory opaqueness, and often uncertain legal protections. Almost all cryptocurrency transactions are irreversible, making the ecosystem an enticing playground for a variety of hackers and scammers.''' | '''The underlying technology of most cryptocurrency related financial activity is still very new and comes with its own set of risks and hazards, including, but not limited to volatility, regulatory opaqueness, and often uncertain legal protections. Almost all cryptocurrency transactions are irreversible, making the ecosystem an enticing playground for a variety of hackers and scammers.''' | ||
Latest revision as of 21:13, 8 January 2024
DeFi, short for Decentralized Finance, refers to the ecosystem of blockchains, protocols, smart contracts, and decentralized exchanges built as alternatives to traditional financial services, such as lending, borrowing, and trading. Transactions are typically peer-to-peer and censorship resistant.
The underlying technology of most cryptocurrency related financial activity is still very new and comes with its own set of risks and hazards, including, but not limited to volatility, regulatory opaqueness, and often uncertain legal protections. Almost all cryptocurrency transactions are irreversible, making the ecosystem an enticing playground for a variety of hackers and scammers.
Reduce your exposure to financial loss by
* ONLY INVESTING WHAT YOU CAN AFFORD TO LOSE
* STORE DIGITAL AND VIRTUAL ASSETS SECURELY USING OFFLINE COLD STORAGE
* RESEARCH INVESTMENT OPPORTUNITIES THOROUGHLY
* BEWARE OF ANY DOWNLOADS THAT MAY CONTAIN MALWARE DEVELOPED TO INFECT YOUR DEVICES AND GAIN ACCESS TO CRYPTOCURRENCY WALLETS
* REMEMBER THAT SCAMMERS OFTEN IMPERSONATE COMPANY SUPPORT PERSONNEL, SOCIAL MEDIA INFLUENCERS, AND PUBLIC FIGURES, AND LINKS TO MALICIOUS SITES DESIGNED TO OBTAIN YOUR PERSONAL INFO AND LOGIN CREDENTIALS ARE OFTEN DISGUISED AS LEGITIMATE WEBSITES
For more info and resources, see DeFi Hub by CryptoFinally