What Is DeFi? Decentralized Finance Explained

DeFi promises a financial system with no banks, no gatekeepers, and 24/7 access - all run by code on public blockchains. This 2026 guide explains what decentralized finance is, how lending, DEXs and yield actually work, and the real risks (smart-contract bugs, scams, and volatility) every beginner needs to weigh.









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