📚_One of the trends is the growth of #DeFi protocols in chain
🐯_These protocols run on the blockchain.
📝A blockchain works as follows:
1️⃣Data is added to a block.
2️⃣The block is encrypted and linked to the previous block.
3️⃣The block is distributed to the computer network.
4️⃣The network nodes validate the block.
5️⃣The block is added to the blockchain.
🐯_Some of the trending protocols are: AAVE, Uniswap and Lido.
📕AAVE: decentralized lending protocol (DeFi).
🐯_Allows users to lend and borrow digital assets.
🐯_The protocol is built on the Ethereum blockchain and uses smart contracts.
📙_Uniswap: decentralized exchange protocol (DEX).
🐯_Allows users to exchange ERC-20 tokens on the Ethereum blockchain.
🐯_The protocol uses an automated liquidity model (AMM) to provide liquidity to token pairs.
📘_Lido: does not have its own blockchain.
🐯_Liquid staking protocol that allows users to stake their Ethereum (ETH) tokens without having to lock them. 🐯_The protocol runs on the Ethereum blockchain and uses smart contracts.
🤝🧡🐯 Many thanks to the community for the support in each publication and thanks to Binance for allowing me to use this means of communication 🤝🧡🐯
