Crypto vocabulary can be hard. Here are some terms you may want to know when getting involved in cryptocurrency!
DeFi is short for Decentralized Finance. Referring to the sector of DApps and services that use blockchain technology to provide users decentralized experiences within their various concepts. Once a not-so-popular sector, now thousands of protocols exists within DeFi. Allowing users to operate within a decentralized financial atmosphere that provides many of the benefits of centralized crypto. Although its coupled with innovation and opportunity that may not always exist on both sides.
DApps, or also known as decentralized applications are platforms that run on blockchain networks and use smart contract technology to provide tools and services to users. There are an incredible amount of DApps available today. Chances are, if you've dabbled in cryptocurrency you may have used a decentralized application.
A DAO, also known as a decentralized autonomous organization, refers to an entity that is represented in some type of form of governance by the form of smart contracts. They aim to provide a truly decentralized atmosphere, where voting by holders makes the decisions within the project.
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