DeFi is revolutionizing the financial landscape by utilizing blockchain and smart contracts to remove the need for traditional banks and intermediaries. It offers greater accessibility, transparency, and security compared to traditional financial institutions. Smart contracts are self-executing contracts that automatically execute actions when predetermined conditions are met. They are the building blocks of DeFi, enabling trustless and decentralized transactions. While there are limitations to smart contracts, the future of DeFi and smart contracts is expected to bring new and better ways for people to handle money online.
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