ChainLink Token (LINKUSD)

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True. Almost all of global CeFi will be gone in a decade or two.

What is Decentralized Finance? (DeFi)

No exchange is involved in the decentralized exchange. The complete process operates via automated applications that are developed on top of blockchain platforms. Also, decentralized finance creates a fair and transparent financial system where anyone can participate. It allows unbanked people to access financial and banking services via blockchain technology.

DeFi aims to build an open-source, permissionless and transparent financial service ecosystem. The decentralized financial system offers services, including borrowing, yield farming, crypto lending, asset storage and more.

The benefit of using DeFi over CeFi is that you have full control over your assets and own the key pair for your wallet. Moreover, users who want to participate in DeFi need to use decentralized applications (dApps) built on the blockchain platforms to access DeFi services.