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Decentralized Finance or, DeFi, refers to various decentralized protocols built on the blockchain network (mainly the Ethereum network) which are aimed to build an open financial system with transparency, accessibility and inclusiveness. The components of DeFi include smart contracts, protocols, decentralized applications, digital currencies, and more. DeFi is also known as “money lego”, it has entirely license-free access, financial applications can be built, connected and used without restrictions. DeFi aims to use smart contracts to replace traditional institutions in Financial Field, allowing users to enjoy financial services at a lower cost, and improve the operational efficiency of the entire financial system, reduce operational costs. At the same time, DeFi should create a global open borderless financial system, so that everyone can trade freely and transparently.  DeFi projects have two main advantages over traditional centralized financial systems：  1. Individuals wi...

Decentralized finance is an open source technology that reaches disintermediation through decentralized layers and the elimination of centralized intermediaries in order to improve the current financial system in all aspects, emphasizing the core tenets of openness, fairness and connectivity. Take cross-border payment as an example, when a person remit money to a person in another country, they usually need to find a financial institution to complete the payment task, but it will charge a certain fee in return. However, DeFi (Decentralized Finance) app disintermediates the entire remittance process by sending digital money directly from his/ her wallet to the payee without the need for a financial institution intermediary service. DeFi has many different financial applications, including payments, debit and credit, stable coin, tokenisation and decentralized exchanges, and can create a new generation of financial system. WazirX - India's biggest Cryptocurreny Exchange.