Decentralized Finance (DeFi) is a way to access financial services like lending, borrowing, or trading without relying on traditional banks.

Instead, it uses blockchain technology, which is a secure and transparent digital ledger.

In DeFi, financial activities are carried out through "smart contracts," which are self-executing programs that work without human intervention.

This system allows users to control their own money directly, without needing permission from a middleman.

DeFi platforms are accessible to anyone with an internet connection, making them more inclusive.

They often use cryptocurrencies, such as Bitcoin or Ethereum, to facilitate transactions.

However, because DeFi is still relatively new, it carries risks like price volatility and the possibility of hacking.

Overall, DeFi aims to create a more open, efficient, and accessible financial system for everyone.