What is DeFi? | Decentralised Finance Tutorial For Beginners | Decentralised Finance | Simplilearn

This video by Simplilearn is based on What is DeFi? and How DeFi works? DeFi is a short form for Decentralised Finance. Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain. Don't forget to take the quiz at 04:13!

This video covers the following:
00:00 Introduction to what is DeFi?
01:14 What is DeFi?
04:13 Quiz about what is DeFi?

#Blockchain #BlockchainAndEntertainment #BlockchainMedia #Blockchain2022 #Entertainment #BlockchainTechnology #Crypto #Simplilearn

What is Blockchain?
Blockchain is one of the leading technologies in the IT world. Blockchain is a revolutionary technology that has changed how transactions work. It intends to provide a safe and secure mode of transactions, by using digital cryptocurrencies, that cannot be manipulated by anyone with ulterior motives. Blockchain is a set of blocks that record information of transactions like who made the transaction to whom, the amount of trade in the form of a digital ledger that is distributed across the entire network, making it more secure and impossible to change, hack or cheat the system. Then it is verified and validated by every node in the blockchain network to proceed with the process of making the transactions.

➡️About Professional Certificate Program In Blockchain
The blockchain certification program helps the learners start from the fundamentals and then cover all the technical and functional aspects needed to build any blockchain solution using the best tools and techniques in the industry. In this program, they will build smart contracts, and bitcoin wallets, create transactions, fabricode, and more.

✅Key Features
- Program completion certificate from IIT Kanpur and Simplilearn
- Masterclasses from IIT Kanpur faculty
- Seamless access to integrated labs on Simplilearn’s LMS
- Get hands-on experience with a capstone on industry-relevant use cases
- Build skills to become job-ready and advance your career
- Simplilearn's JobAssist helps you get noticed by top hiring companies

✅Skills Required
- Cryptography and Cryptocurrency
- Bitcoin
- Distributed ledger
- Hyperledger
- Ethereum Blockchain
- Consensus
- &more

🔥🔥 Interested in Attending Live Classes? Call Us: IN - 18002127688 / US - [phone]

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Don't forget to take the quiz at 04:13! Comment below what you think is the right answer, to be one of the 3 lucky winners who can win Amazon vouchers worth INR 500 or $10! (Depending on your location). What are you waiting for? Winners will be announced on 28th April 2022.

[fernandovargaspineiro]

it uses the 3, smart contracts, dapps and consensus algorithm

[se]

consensus algorithm. Thanks for explaining it so well in a short time!

[francis]

For me, DefI means that I control my private keys and that no third party controls them; examples of DefI include but are not limited to, Cronos Defi and enterprise Defi.

[BitcoinAndCryptoCurrency]

finally a solution against our current system

[badrulv]

How does the loan gets approved, who verifies the credit worthiness of the applicant

[thabangmashabela]

Concensus algorithm. I love this technology

[ahmadredzwan]

The answer is smart contracts, dapps and consensus algorithm. I am very knowledgable in DEfi so my answer is reliable..

[asishshaw]

It will be option b. Consensus Algorithm

[josephegaji]

nice one. simply explained. me i will say DEFI uses consensus mechanism

[kalyaneynou]

Thanks for the video. My answer is smart contract.

[folasadeonifade]

It uses concensus algorithm.
thank you it was simply explained

[victoridem]

So interesting video.. I come to know much about defi. Thanks to Reef Chain which is an EVM compatible blockchain for DeFi, NFTs and Gaming.

[michealchiboy]

It uses dapp, smart contract and option c