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DeFi - What is it?

Decentralized Finance, or DeFi, can be likened to a global super bank that's accessible to everyone. Normally, when you want to do things with your money, you have to deal with big banks. But with DeFi, it's like having an internet piggy bank accessible to anyone, regardless of your location.

This special piggy bank uses computer codes (smart contracts), super secure technology (blockchain), and secret codes (cryptography) to make sure everything is fair. It's like having a special language (Solidity) for the piggy bank to understand and do smart things with your money.

Most of these special piggy banks utilize Ethereum to work. Ethereum is like the superhero that helps make all of this possible because it has a super strong language (Solidity) to talk to these special piggy banks.

In the regular world, banks act as middlemen to help you with your money, but DeFi doesn't need them. Instead, it has automated features (like a robot) that helps without charging a lot of money. So, it's like using your special piggy bank directly, which is way cheaper.

And guess what? This special piggy bank doesn't just hold your money; it has many other useful features like allowing you to make purchases, trade, borrow, and lend. And the best part? It does everything quickly and fair! So, DeFi is an amazing way for everyone to use their money easily and quickly all around the world.

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DeFi - What is it?
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