What is DEFI? Decentralized Finance Explained (Ethereum, MakerDAO, Compound, Uniswap, Kyber)

DeFi or decentralized finance is a movement that aims at making a new financial system that is open to everyone and doesn't require trusting intermediaries like banks. To achieve that defi relies heavily on cryptography, blockchain and smart contracts.

Smart contracts are the main building blocks of defi. If you don't know what smart contracts are or you want to refresh your knowledge you can pause this video and watch my introduction to smart contracts video first.

It's worth noticing that currently most if not pretty much all of the defi projects are built on Ethereum. The main reason for this is the Ethereum's fairly robust programming language called Solidity that allows for writing advanced smart contracts that can contain all the necessary logic for the defi applications, besides that Ethereum has the most developed ecosystem across all the smart contract platforms with thousands of developers building new applications every day and the most value locked in smart contracts which create an additional network effect. In fact, all the defi protocols mentioned in this video are built on Ethereum.

[Finematics]

❓What is your favourite DeFi project? Comment down below
👍Hit the like button if you enjoyed this video

[mirebus]

Im proud to be a student in the university of youtube

[Senniemiec]

I work in CEFI and this is really eye opening. Traditional finance will have to change.

[achromcapital]

I'm not a noob in DeFi, I was studying hard about it since 5-6 months ago. But you f*ck*d my mind in 12:23 minutes in an awesome mode. This is without dude the best information about DeFi that I founded on Internet. I can only say you congratulations and I spect that you'll continue doing this for decades.

[almac]

Thank you so much for all the effort you put in making DeFi understandable for the common user. I already went through all your videos/articles in your DeFi guides and, although I'm not anything close to a programmer, I now have a better notion of the whole concept. Your work is solo valuable, I cannot thank enough. Cheers from Mexico.

[JDD]

I love that you also give examples of the projects and link them together!

[RichoGoMa]

I got dizzy by watching this video.. so much information overheated my brain!

[davehickey]

This is the first DeFi.video I’ve watched and it was easy to follow, covered lots of ground so I felt it gave me an excellent intro to the space. Thank you very much!

[VoskCoin]

you're doing a great job w/ your channel and videos, keep it up!

[nerdowlesa]

I see the cryptocurrency universe becoming a course in college and high school

[everin]

Defi is the future we believe in! Thank you for the great explanation. We hope that this video helped a lot of people!

[UrbanLegend]

Had to watch this video x10 times to get my head around it all. But really very useful, thank you. 🧠

[arjoon]

Your channel is by far the best I've found on defi. Keep up the awesome work!

[chopragaurav]

All regulatory bodies across the world need to watch this video (can you please make an updated one?).
Hope this video gains enough rep from YouTube so that it recommends to everyone.
Thanks! 🔥

[tsuobachi]

This is the video I send to my friends and family when they want to start learning about defi. It's really fantastic like all of your videos, thanks.

[necromancer]

Hands down, Best channel not just on Youtube bur across all the internet that can explain blockchain environment to a newbie like me. Thank you! Finally i am getting what this is all about

[CarlKruse]

A good overview of the DeFi ecosystem.

[asdf]

This is the best YT vids I've seen providing a survey of a domain, thank you!

[ald]

This is the most useful crypto channel on YouTube

[christopherdobrinski]

you should be a blockchain professor. i have not seen a better teacher. kudos