Decentralized finance or DeFi as it has become known has been a hot topic in 2020. The protocols within this category contain many components that can be confusing for people new to the sector.
Furthermore, at this stage in its early history, there is also some debate over what categories specific dapps should sit within i.e DeFi or Decentralized Exchanges or DEX, as they are known. Both categories are crucial to the overall decentralized finance ecosystem so here we will explain both.
DappRadar has prepared an article where we are explaining the decentralized finance and talk about the differences between centralized finance (CeFi) and decentralized finance (DeFi).