Decentralized Finance or DeFi is the new movement in the cryptocurrency and blockchain industry that has the potential to completely revolutionize the global finance space. In a relatively small time span, the DeFi industry has skyrocketed to extraordinary heights. Various DeFi protocols have been introduced in recent times that cater to different use cases in the financial sector.
The DeFi industry enables the ability to perform and access financial products or services without any centralized institution. Traditional financial instruments like loans, debts, borrowing, mortgage, and insurance can be accessed in a decentralized environment.
The DeFi protocols are decentralized applications that are developed on the top of a blockchain platform and operate through the network of smart contracts. Most of these dApps in the DeFi ecosystem are built on the Ethereum’s blockchain platform. The DeFi industry integrates some of the best Ethereum dApps in the market. In this article, we are going to take a look at the top Ethereum dApps in the decentralized finance domain and the key use cases of these DeFi cryptocurrencies.