February 2024
Intermediate to advanced
224 pages
7h 13m
English
Content preview from Understanding DeFi
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Preface
Decentralized finance, or DeFi, is just about finance without banks. It’s one of the core use cases for blockchain, which is really an innovation in accounting. DeFi will eventually be a key part of finance for people, and one of the primary ways people earn returns on their assets, whether fiat or cryptocurrency. Banks need competitors, and so do DeFi protocols. Together, they will allow people to get the highest and best returns on their assets for the lowest cost and risk.
This book is not about promoting specific DeFi protocols, or even about promoting the current state of DeFi. It is about understanding the entirety of the space—where it fits into blockchain, its core elements, how to operate in the space, and the future of DeFi.
People who enter blockchain—and even those who have been in it for years—tend to have a sort of “Swiss cheese” knowledge: very deep and detailed in some areas but almost nonexistent in others. Accordingly, this book has significant background information, explaining the history and technology of blockchain and the key concepts of finance. This is to ensure that readers have a more complete understanding of how these fields merge in the DeFi industry, and what the potential and limitations truly are.
How Is This Book Organized?
This book starts by laying down the foundation for the reader to understand the basic principles and history of both blockchain and DeFi. It moves from there to the tools of DeFi and how to build in DeFi. It then covers ...
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