What Are DeFi Protocols Used For?
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What Are DeFi Protocols Used For?
The explosive growth of decentralized finance (DeFi) has ushered in a revolution in the financial landscape, introducing a diverse range of innovative products and services. Consequently, individuals now have unparalleled access to financial services and products, bypassing the need for intermediaries like banks or traditional financial institutions. DeFi has been instrumental in democratizing finance by…
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WHAT IS THE ETHEREUM VIRTUAL MACHINE (EVM)?
At its core, the Ethereum Virtual Machine (EVM) is specialized software designed to process smart contracts on the Ethereum network. Unlike Bitcoin, Ethereum’s primary focus was not solely on creating a peer-to-peer digital payment network. Instead, Ethereum’s founders, Vitalik Buterin and Gavin Wood, utilized blockchain technology to decentralize various aspects of the internet. They introduced…