Music AI
  • OVERVIEW
    • 🎵Music AI
    • 🎵10 Benefits of Music
    • 🎵The evolution of investors
    • 🎵Our mission
    • 🎵Sociocultural factors
  • MusicAI in a Click
    • 🔉Fairlaunch Pinksale
    • 🔉Social Media MusicAI
    • 🔊Dapp MusicAI
    • 🔉Telegram Bot
    • 🔊Opensea MusicAI
    • 🔊KYC
    • 🔉Audit
    • 🔊Fairlaunch ETH Pinksale
  • FEATURES
    • 🔉Web3 and Blockchain Trends
    • 🔊Web 3 Concept
    • 🔉Blockchain Concept
    • 🔊Blockchain and Web3 at Music AI
    • 🔉DeFi Concept
    • 🔊DAO and Anti-Dump
    • 🔉NFT's Concept
    • 🔊Metaverse
    • 🔉Staking
    • 🔊Launchpads
    • 🔉EVM / PoS
    • 🔊Artificial Intelligence (AI)
  • Token MusicAI
    • 🔉Tokenomics
    • 🔊Tokens Metrics
    • 🔉Roadmap
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  1. FEATURES

DeFi Concept

DeFi Concept

-> DeFi stands for decentralized finance, which means finance that operates independently without a central authority. The concept involves financial services and products that are built on blockchain technology. A blockchain is a public database that records and stores information about financial transactions in a series of blocks. Transactions must undergo a validation process using a consensus algorithm before they can be added to the blockchain. This helps ensure the authenticity and immutability of the transaction.

DeFi Functionality

->To understand how DeFi works, you need to know about smart contracts. These are computer codes that automatically execute agreements once specific conditions are met.

Main DeFi Applications

-> DeFi applications are mostly built on the Ethereum blockchain and offer various financial products and services. Some of the main applications include:

  • Crypto Exchange: DeFi enables decentralized exchanges (DEX) where users can trade cryptocurrencies without intermediaries.

  • P2P Lending: DeFi offers peer-to-peer lending and borrowing of cryptocurrencies without intermediaries.

  • Asset Tokenization: DeFi allows the creation of digital representations of assets that have economic value and can be traded.

  • Income Protocols: DeFi enables users to lend digital currencies for the network to perform credit transactions and earn passive income.

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Last updated 2 years ago

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