How do smart contracts on Ethereum contribute to decentralized finance (DeFi) applications?

1 answers

• Dec 26, 2021 · 3 years ago
  At BYDFi, we believe that smart contracts on the Ethereum blockchain are the backbone of decentralized finance (DeFi) applications. They enable secure and transparent financial transactions without the need for intermediaries. With smart contracts, users can lend, borrow, trade, and invest in various DeFi protocols and platforms, all while maintaining control over their assets. The use of smart contracts also eliminates the risk of censorship or manipulation by centralized authorities, ensuring a fair and open financial system. So, whether you're a DeFi enthusiast or a newcomer to the space, smart contracts on Ethereum are the driving force behind the innovation and growth of decentralized finance.
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