Understanding CeFi, DeFi & Yield Farming by menoski

hive-175254 · @menoski · Jul 29 '21

$4.71

Understanding CeFi, DeFi & Yield Farming

<div class'text-justify'>

Hello everyone, hope you all are doing good? This is the beginning of an exciting new series, which promises to be informative and also educative, do well to follow all the parts, as you will definitely gain 1 or 2 useful information from the series. In today's article we would be knowing the importance Of the DeFi System?

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<center>![302be9b00e737c42c47be1d4a02f59dfdb1d41d777d53fe89a38eb506c5262ec.jpg](https://images.ecency.com/DQmUh9N8Xd8iy7XyWD9pKYgbDbBSEUFe2GToVrwK3oK7yiZ/302be9b00e737c42c47be1d4a02f59dfdb1d41d777d53fe89a38eb506c5262ec.jpg)</center>

<center>[Source](https://blockchain.news/news/has-defi-bubble-burst-top-defi-tokens-crash-50)</center>

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The importance of the DeFi System are quite numerous and are very much needed in our today's financial system. But first thing first, what does DeFi system means. From my understanding, DeFi system is a kind of financial system that is built on blockchain technology, that helps to enable it's users with the ability to make transactions without any third party or intermediary getting involved.

Here are some of the notable importance of the DeFi system;

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+ **Privacy**
+ **Cost Effective**
+ **Security**


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<center><h5>Privacy</h5></center>

Privacy is a thing of choice, and we all should be able to perform transactions with or without doing our KYC verification. DeFi helps users feel as though they are free and not under any radar, whenever they are performing any transaction. Only you and alone you, should know your worth(account balance). 

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<center><h5>Cost Effective</h5></center>

DeFi system is cost effective, as it eliminates any third party or intermediary involvement in our transaction. It is not only cost effective but also, very fast as compared to CeFi. Do you know how much it costs and how much time it takes, when you want to send money to someone oversea using CeFi. It could cost you $50 and maybe take a day or two days, sometimes even more days for the money to get to your desired person. But if you use the DeFi system, such transactions may cost less than $5 and takes less than 5 minutes to get to your desired person. 

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<center><h5>Security</h5></center>

DeFi system ensures high level of security of your funds. Your funds are in a wallet that is completely controlled and managed by you and you alone. No more issues of your account been hacked, as long as your wallet keys hasn't been exposed, you are 100% certain that your funds will safe and secured, when using Defi system.

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Those are the three main and notable importance of the Defi system in today's world.

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<center>![decentralized_finance_defi.jpg](https://images.ecency.com/DQmPkMr4D2SSXB5zEjZXndNioZM5hu8mHuMNeXEnMm4U6Tx/decentralized_finance_defi.jpg)</center>

<center>[Source](https://www.ledgerinsights.com/aave-kyc-enabled-permissioned-defi-for-institutions/)</center>

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I hope you all found the article interesting and exciting. Do well to share your thoughts about the article in the comment section below. Thanks.



<center>![HNWT6DgoBc14riaEeLCzGYopkqYBKxpGKqfNWfgr368M9Wj16sy9L2FLoMKzyyDvhGzkw7di9PwELb1KmcWjTry3LS37ofeg3FYBxijjJ5BqZCyybeD3nMxmJzA.png](https://files.peakd.com/file/peakd-hive/menoski/X4mfpd5h-HNWT6DgoBc14riaEeLCzGYopkqYBKxpGKqfNWfgr368M9Wj16sy9L2FLoMKzyyDvhGzkw7di9PwELb1KmcWjTry3LS37ofeg3FYBxijjJ5BqZCyybeD3nMxmJzA.png)</center>


<center>⚫️⚪️⚫️</center>

<center><h3>Thanks For Reading</h3></center>

<center><h3>Till Next Time, Stay Safe</h3></center>


</div>

👍 project.hope, eric818, gunthertopp, crypto.piotr, ph-support, hingsten, bippe, xeldal, xpilar, enki, reflektor, tocho2, vlemon, unbiasedwriter, alokkumar121, protoss20, bigpower, josevas217, shaunmza, help.venezuela, beckie96830, roadofrich, mauromar, steemgoon.cur, alegnita, ph-fund, mccoy02, creativeblue, never.power.down, samminator, mrsquiggle, emiliomoron, axel-blaze, franyeligonzalez, reeta0119, akdx, andrewg7, eberechi10, adityajainxds, luckyali, benie111, tolustx, pixelfan, talktofaith, carlos84, arunava, ecoinstats, menoski, lenonmc21, madridbg, machnbirdsparo, mato445, muratkbesiroglu, solarwarrior, juanmolina, pocoloco01, gruntalpha, gruntbeta, grunt, upme, lanzjoseg, bambuka, fucho80, beargame, and 192 others

properties (23)vote details (256)

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gruntalpha	16,981,970,861	100%
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dineshtamang	0	13.25%
roadofrich	43,689,200,151	42.4%
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madhab	18,659,101	13.25%
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anhhermit	0	15.9%
thebom	0	15.9%
ph-fund	38,035,847,102	51%
aiplusfinance	4,532,297,553	100%
luckyali	25,467,379,651	53%
steemgoon	1,826,025,631	60%
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dalyaok	1,315,095,249	45%
protoss20	73,022,785,493	26.5%
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xonho	0	1%
mccoy02	34,650,257,054	53%
lovveday	3,485,261,211	26.5%
vhenom	4,224,327,483	25.5%
talktofaith	23,407,738,809	53%
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pradhumna	23,942,997	13.25%
ph-support	615,570,654,264	53%
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prolee	3,998,268,143	26.5%
curxx	0	1%
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emimoron	3,370,906,429	53%
miss-t	3,674,880,434	26.5%
sebassv	840,930,808	5%
stornit	23,186,329	13.25%
angelnu	285,606,071	53%
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carluis777	594,794,365	25.5%
yh70	7,034,855,054	2%
ipamaru	482,150,716	13.25%
lennyblogs	4,976,843,777	100%
josegma96	12,199,597,933	53%
genx-miner	282,675,580	100%
villacamila16	338,106,939	13.25%
jdavid53	61,190,769	13.25%
devotedman	1,370,033,222	53%
yachi1	242,147,729	53%
jahangeerkhanday	314,847,234	13.25%
mistural	10,196,625,514	100%
greatideas	1,272,322,035	53%
steemfield	7,172,248,516	42.4%
esthy	97,525,471	25.5%
marivic1	141,236,352	26.5%
isha46	698,451,679	13.25%
zeewanee	1,657,543,701	13.25%
meekey41	434,617,668	26.5%
humblesoul	4,610,204,281	60%
funmiblog	1,301,619,553	53%
dogekids	0	1%
muammar-village	2,791,201,779	100%
angeljenny64	138,651,025	13.25%
alibhatti	64,324,322	7.95%
favour216	23,519,563	13.25%
zainsteemit	57,283,297	26.5%
msquaretk	1,941,588,483	26.5%
msquaretwins	4,862,039,144	100%
doohjane	156,139,280	26.5%
nabeeel	0	5.3%
arcaned	0	6.62%
abc.find	40,576,999	3%
baseru	36,650,141	13.25%
denisga2021	53,089,406	25.5%
wizards	4,360,039,470	26.5%
udyliciouz	442,974,012	26.5%
anyiglobal	27,230,479	13.25%
punitmakker	23,115,969	13.25%
never.power.down	33,513,375,343	100%
aliimrankamboh	407,265,696	13.25%
a-kallis	1,566,762,173	53%
odinhall	0	13.25%
mrsolution	24,508,063	13.25%
kendra237	118,208,130	26.5%
jossyrose	89,941,193	26.5%
steemtobtc24	0	6.62%
steempromoevent	51,733,270	25.5%
joemuknic	2,690,292,431	53%
andrewg7	26,425,301,147	100%
lamba12	66,903,866	25.5%
geniusdg	55,658,672	26.5%

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