Understanding the Key Differences: CeFi vs. DeFi
Centralized Finance (CeFi) and Decentralized Finance (DeFi) are two contrasting approaches to financial systems. CeFi refers to traditional financial institutions that are tightly regulated and controlled by a central authority, while DeFi operates on decentralized networks, utilizing blockchain technology and smart contracts to automate financial transactions. Understanding the key differences between CeFi and DeFi is crucial in order to assess their pros and cons.
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