DeFi on Ethereum Explained - Decentralized Finance (Ultimate Beginners' Guide)

This is a beginner's guide about DeFi, or decentralized finance, products and services being build on the Ethereum ecosystem.======== LINKS TO ACCESS SITES SAFELY ========♥ Coinbase - Receive $10 of FREE BITCOIN when you use this link to sign up for Coinbase and invest $100: https://coinbase-consumer.sjv.io/Eaxk5W♥ Crypto.com Signup - http://platinum.crypto.com/r/cryptocasey - Type in Referral Code: CryptoCasey and we both get $25 🙂 ♦ Kraken Exchange Link: https://r.kraken.com/r5XmG♦ KuCoin Exchange Link - https://www.kucoin.com/ucenter/signup?rcode=2Q2fbRg♦ Binance Signup Link: https://www.binance.com/?ref=11055137♦ Bittrex Signup Link: https://bittrex.com/Account/Register?referralCode=M0U-UDK-WU5♦ Coinmama Signup Link - https://go.coinmama.com/visit/?bta=51862&nci=5343♦ BitBuy Canadian Exchange Link - https://bitbuy.ca/sign-up?c=X66OWECQP♦ Recommended Hardware Wallet:Ledger Nano X Backup Pack Link - https://www.ledgerwallet.com/r/befe♦ BC Vault Crypto Hardware Wallet Link - https://bc-vault.com/shop/bc-vault/?wpam_id=22======== TABLE OF CONTENTS ========00:00 - Introduction01:42 - What is DeFi?03:47 - DeFi’s Foundation - Blockchain10:40 - DeFi’s Ecosystem - Ethereum16:10 - DeFi’s Financial Stack24:03 - DeFi’s Architecture - Money Legos======== VIDEO SUMMARY ========DeFi is the trendy shortened version of the term “decentralized finance.”So the word “finance” in these concepts simply refers to the financial industry at large, while “decentralized” and “centralized” describe the nature of its foundation and how it works.Currently, the entire traditional finance industry is “centralized.”So, although DeFi stands for the term “decentralized finance,” the word DeFi is used colloquially to describe the movement or crusade towards a low-cost, fast, efficient, trustworthy, and completely transparent global financial ecosystem.The new financial era will operate on the very place from which numbers, mathematics, physics, and computer science were derived: the ever-enduring fabric of the universe. in the coming years, DeFi will allow the entire financial foundation to operate purely from principles of mathematics and computer science using what’s known as blockchain technology.Blockchain technology is the cornerstone of decentralized finance, as it's what makes the decentralization aspect of DeFi possible.The idea of, and desire for, a crusade towards decentralized finance, or DeFi, emerged back in November of 2018.There are 5 components to the DeFi stack: Stablecoins, Exchanges, Money Markets, Synthetics, and Insurance.The simplest way to describe and understand DeFi’s architecture, or the relationship between all of these components and decentralized financial applications on Ethereum is by comparing them to Legos.One of the main principles of the DeFi ecosystem is to achieve interoperability. That way, each new project doesn’t just exist as an individual product or service, but rather serves as a new lego piece, or building block developers can leverage for other projects.So instead of choosing from a pile of random legos to start assembling something, they can actually take an existing lego structure to run with in a new direction.You can see how DeFi’s lego-like architecture allows for efficient, limitless creation and expansion of a whole new global financial universe.======== ESSENTIAL CRYPTO RESOURCES ======== ♦ Recommended 1st Option to Buy Bitcoin/Ethereum:Coinbase Signup Link - Receive $10 of FREE BITCOIN when you use this link to sign up for Coinbase and invest $100 - https://www.coinbase.com/join/57605a33b9140001c900020b♦ Recommended 2nd Option to Buy Bitcoin/Ethereum:Coinmama Signup Link - https://go.coinmama.com/visit/?bta=51862&nci=5343♦ Recommended Exchange to Buy Altcoins:Binance Signup Link: https://www.binance.com/?ref=11055137♦ Recommended Hardware Wallet:Ledger Nano X Backup Pack Link - https://www.ledgerwallet.com/r/befe♦ Recommended 2nd Hardware Wallet:Trezor Model T Link - https://shop.trezor.io/[email protected]♦ Recommended Malware Protection for Computer & Mobile Devices:MalwareBytes Link - http://www.tkqlhce.com/click-8628825-12849560♦ Recommended Encrypted Email Account for Managing Cryptocurrency Accounts:ProtonMail Link - http://proton.go2cloud.org/SH1f♦ Recommended Crypto Tax Solution:CryptoTrader Link - https://www.cryptotrader.tax/?fp_ref=casey80======== SOCIAL MEDIA LINKS ========● Facebook Page - https://www.facebook.com/cryptocasey/● Twitter: https://twitter.com/cryptocasey● Instagram: https://www.instagram.com/cryptocasey/● Telegram: https://t.me/cryptocasey/● Business Contact - [email protected]● Website - https://CryptoCasey.com/======== DONATIONS ========♥ BTC - 12XfdCJqEuRRzMrcD1YaE5kHeSShdkcW3G♥ ETH - 0xf94c719621E358890Dd33dD010a1fb4717EbdaE4