DeFi, or Decentralized Finance, refers to a financial ecosystem built on blockchain technology that allows people to access financial services without traditional intermediaries like banks or brokers. Instead of relying on centralized institutions, DeFi uses smart contracts—self-executing contracts with coded conditions—to facilitate transactions.Users can lend, borrow, trade, and earn interest on their assets through various DeFi platforms. These services are open to anyone with an internet connection, promoting greater financial inclusion. The lack of intermediaries often leads to lower fees and faster transactions.Security and transparency are key features of DeFi, as all transactions are recorded on the blockchain, allowing users to verify their activity. However, risks exist, including the potential for smart contract vulnerabilities and market volatility.Overall, DeFi aims to create a more accessible and efficient financial system by leveraging technology, decentralization, and transparency.