Decentralised finance is booming—and so are the security risks
WHEN THE first cryptocurrency, Bitcoin, was proposed in 2008, the goal was simple: to create a digital currency free from banks and governments. Over time, that idea evolved into something much bigger: ‘decentralised finance’, or ‘DeFi’.
With decentralised finance, people trade, borrow, and earn interest on crypto assets without relying on traditional intermediaries. DeFi services run on blockchains, which are essentially digital ledgers, and use ‘smart contracts’—self-executing code that automates financial transactions.
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