The concept of Decentralized Finance (DeFi) remains a relatively new space and as a result, not well understand even among veterans in the crypto space.
In this video, Eugene Mutai, a reknowned blockchain developer and cryptocurrency trader in Kenya, breaks down the various components of DeFi by comparing traditional lending and borrowing models with the current blockchain protocol models.
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SEE ALSO: Eugene Mutai Simplifies the Blockchain at the ‘Blockchain Beyond Cryptocurrency’ NextGenTech Event
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Using a visually-appealing whiteboard, Eugene explains the concept of borrowing and lending in DeFi in an easy-to-understand way.
In this video, you will learn:
- What is Decentralized Finance (DeFi)? – Savings, Lending, Borrowing, and Trading in DeFi
- How borrowing and lending works in traditional banking
- An introduction into DAI
- How borrowing and lending works on the Ethereum blockchain via Compound
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RECOMMENDED READING: [WATCH] Defining DeFi: Breaking Down DeFi and Yield Farming with the CEO of SaBi African Crypto Exchange
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A Lesson on DeFi with Lucky Uwakwe, CEO, Sabi Exchange:
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