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Advantages rendered by Decentralized Finance Solutions

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James Donald
Advantages rendered by Decentralized Finance Solutions
  • It is highly interoperable between different platforms and networks. It runs on an open-source permissionless blockchain network. 
  • No central entity is involved in financial services such as borrowing, and lending. This improves the efficiency of the process and cuts down on unnecessary costs. 
  • It is completely permissionless in nature and does not involve scrutinization through submission of KYC (Know Your Customer), and credit scores. 
  • Anyone with a good internet connection and a smartphone can make the use of Decentralized Finance Solutions. Hence, the liquidity offered is borderless and not limited by geographical barriers and different time zones. 
  • It is non-custodial in nature and users are given complete freedom and control over their respective funds or assets. 
  • High-end security practices are implemented over all the assets managed on the platform and hence it is unhackable. 

Read more - https://www.infiniteblocktech.com/blog/decentralized-finance-defi-development/

 

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James Donald
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