Paper Contents
Abstract
Block chain technology has caused a huge shift in the banking industry with the rise of Decentralized Finance (DeFi). This piece looks into blockchain's main role in supporting DeFi ecosystems by focusing on its decentralization, transparency, and security features. We look at the technical side of blockchain, specifically how smart contracts are used to make sure that financial deals are carried out automatically and without the need for middlemen. The piece also talks about how blockchain could be used in decentralized financial infrastructure (DeFi), including lending protocols, asset management, yield farming, and decentralized exchanges. Concerns about scalability, security holes, legal issues, and barriers to user growth are some of the issues and chances we talk about when it comes to blockchain-based DeFi. The article also talks about the current state of study and how blockchain technology could be used to make future decentralized financial systems stronger. In the end, this study shows how blockchain technology can change the way traditional financial systems work through DeFi innovations and make financial services easier for more people to access.
Copyright
Copyright © 2024 Dr.K.BAranidharan. This is an open access article distributed under the Creative Commons Attribution License.
