Decentralized finance in the business market refers to a way in which transactions with third parties no longer need to be mediated by companies such as banks or credit institutions.
Eviralnews, Decentralized finance is based on blockchain technology, which theoretically maintains a public and secure ledger of transactions that cannot be easily altered..
Blockchain refers to a set of information packets connected to each other (chained), each block containing a number of transactions..
In the non-digital system, intermediaries such as government banks or financial institutions must be used to conduct financial transactions, but blockchain eliminates this need, allowing buyers and sellers to transfer money directly without intermediaries or other personal presence. .
Each package of information related to a financial transaction to verify the authenticity of the information contained in it, from a Code It uses in which each package contains the information and code of the previous package, and in the same way, a chain of packages (blocks) that are connected to each other is formed.
Of course, due to the fact that each package is connected to the previous package, it is not possible to change its information, therefore, it has made the security and transparency of the existing financial network (Blockchain) unmatched..
Zachary Folkman and Chas Herro, key figures in Trump’s cryptocurrency project, stated that the platform would primarily be stable money with very little volatility. stablecoins» » uses that is backed by a traditional financial backing such as the dollar. As a result, they are freed from the sometimes brutal volatility of cryptocurrencies that are not backed by real-world money..
