Opportunities, Benefits, and Challenges of Decentralized Finance (DeFi)

Test Your Knowledge

A. DeFi requires intermediaries like banks.

B. DeFi operates without centralized control, allowing users to control their own funds.

C. DeFi only allows users to trade cryptocurrencies.

A. The blockchain on which DeFi operates, typically Ethereum.

B. The platform where users can lend or borrow cryptocurrencies.

C. The application used for decentralized exchanges.

A. Platforms that require a central authority to manage trades.

B. Platforms that allow direct trading between users without intermediaries.

C. Platforms that only allow lending and borrowing of cryptocurrencies.