Decentralized Finance (DeFi): Redefining the Future of Finance, Its Path, and Challenges

What is DeFi?At its core, Decentralized Finance refers to a system of financial services and applications that operate on blockchain networks—mainly Ethereum—without relying on intermediaries such as banks, brokers, or insurance companies. DeFi uses smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code, to enable financial services like lending, borrowing, trading, and earning interest. All of this happens in a trustless enviro...