Hey all, I’ve been hearing a lot about ‘defi’ in the cryptocurrency world lately, and I’m a bit stuck on what it actually means. I know it has to do with financial services, but that’s about it. I keep coming across this term in different crypto discussions and articles. Is it a type of blockchain technology or a new coin in itself? Is it an investment or trading strategy perhaps?
The reason I’m asking this is I’m trying to get a firm grip on all these crypto terms and technologies. It’s a rapidly evolving frontier, and I’m just trying to keep up and learn as much as possible. So, if someone could explain ‘defi’ in a simple, no-nonsense style, that’d be great. I don’t need complex jargon, just the basics of what it is and why it’s significant in the world of cryptocurrency.