What is Web3?
Web3 is the next generation of the internet based on decentralized technologies such as blockchain.
Will cryptocurrencies be the main form of money in the future?
This is possible, but traditional currencies are unlikely to disappear completely.
How to choose a reliable DeFi platform?
• Check the platform’s reputation• Review smart contract audits• Avoid excessive profitability promises
What are stablecoins in DeFi?
Stablecoins are cryptocurrencies tied to the value of stable assets, such as the US dollar, to reduce volatility.
What is a Governance Token?
A governance token is a token that allows holders to participate in decision-making regarding the platform's operations.
How does DeFi differ from traditional finance?
DeFi lacks centralized management and allows users to retain control over their assets.
What are decentralized exchanges (DEX)?
DEX are platforms for exchanging cryptocurrencies without intermediaries.
What are the risks associated with DeFi?
• Vulnerabilities in smart contracts• High volatility• Fraudulent project
What is Yield Farming?
Yield farming is the process of providing liquidity to DeFi platforms to earn rewards.