What you’ll learn
- What a smart contract is & why they are important
- The most common smart contract use cases
- How to guide for interacting with a DEFI Smart Contract
- Smart Contracts for more complex use cases
After several years of consolidation around the crypto space, emerging innovative protocols are finally starting to draw interest, and it is much more than just reminiscent of the 2017 ICO boom. DeFi, short for Decentralised Finance, is one of the most popular.
Bitcoin delivered blockchain technology and decentralization, but the crypto market remained plagued by centralized finance, which became laden with governance to meet regulatory and investor demands.
DeFi, however, stands as truly decentralised, with no actual governance and a trustless and permissionless ethos. The crypto space may look like a once-in-a-lifetime opportunity to roll out a decentralised financial service, but a deep understanding of how smart contracts work is critical.
With the explosion of the DeFi industry in 2020, the use of Smart Contracts – which provide their logic – necessarily grew alongside. While CeFi depends on intermediaries to manage transactions, DeFi uses immutable Smart Contracts to create trust and transparency.
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