Applications of the Decentralized Finance (DeFi) on the Ethereum
Teng Huang, Wayneyuan Tian, Haocheng Wang, Zhiyuan Yang
Abstract
With the popularity of blockchain technology, more and more financial fields are ready to apply or have applied the blockchain technology to achieve technological upgrade. The Ether is the most popular platform which we can establish the smart contract to apply the blockchain technology. Decentralized financial DeFi is an important part of realizing the blockchain technology upgrade in the financial application. Based on blockchain technology, this paper introduces the basic working principle of blockchain and Ethernet. Then explains how it provides the technical foundation for decentralized finance as a technical innovation. It then proposes the advantages that DeFi apply in the financial sector and how it can bring benefits to individuals or enterprises based on the features of blockchain such as decentralization, no personal tampering and automatic information uploading.