decentralizedfinance Archives - Online Finance Blog

Understanding Cryptocurrency – A Beginner’s Guide to Bitcoin and Beyond

February 21, 2024February 21, 2024 Denny MackBeginnersGuide, Cryptocurrency, decentralizedfinance, Future of Cryptocurrency0 comment

Just as most people do not comprehend the complex mechanics and electrical systems of an aircraft, many do not fully grasp how cryptocurrency technology operates – yet this new form of digital money could revolutionise our economies. Understanding crypto basics can be invaluable for making sense of something that seems foreign yet familiar, such as New Age mysticism or psychedelics. What is Cryptocurrency? Cryptocurrency is digital money that uses encryption and blockchain technology to verify transactions without needing an intermediary authority, enabling its users to instantly transfer value worldwide with…

The Rise of Decentralized Finance – What You Need to Know

February 8, 2024February 8, 2024 Denny Mackdecentralizedfinance, DeFi, financialtechnology0 comment

Decentralized finance promises to deliver an improved financial experience. By cutting out middlemen and streamlining transactions directly, service fees can be drastically reduced while assets can be moved quickly between accounts. Before beginning DeFi, it is essential to understand its risks. Here are a few considerations: What is DeFi? Decentralized Finance, or DeFi, utilizes blockchain technology to enable peer-to-peer lending and borrowing transactions between individuals without financial institutions acting as middlemen – saving both time and money in the process. DeFi is unlike traditional financial systems in that it operates…