📣What’s the difference between DeFi and traditional finance?

📚A financial system is responsible for managing the movement of funds associated with various financial transactions.

📚Since customers are often unaware of the underlying rules or agreements governing financial assets and goods, the traditional Centralized Finance (CeFi) ecosystem may seem mysterious to non-experts. On the other hand, Decentralized Finance (DeFi) claims to provide transparency and control, thanks to its integrity-protected blockchain.

📚Here are the most prominent differences between traditional and decentralized finance.

🎯Traditional:

📌Weak security protocols
📌Limited access
📌Centralized control
📌Lack of interoperability

🎯DeFi:

📌Cryptographic security
📌Unlimited global access
📌Decentralized control
📌Interoperable networks

📚Conventional financial systems are very complex and time-consuming. Blockchain is saving time and costs. It provides you with trackable transactions, high security, transparency and confidence. This all makes lending, borrowing and staking easier and more accessible.

📚Over the past year, the crypto and DeFi industries have experienced considerable growth while attracting traditional finance firms such as major banks and hedge funds to opt for decentralized solutions as well.

📌 https://timecoinprotocol.com/