This very special DeFriday comes with an entire guide to the decentralized finance industry — from noobies to degens 💫 Read more on CMCAlexandria 👇
Decentralized finance is the talk of the town in crypto today, and while this has mostly been due to its seemingly absurd growth in recent years, DeFi is making waves under the surface that couldOne of the most important reasons why humans have been able to dominate the planet for centuries is our ability to adapt to environments and automate laborious processes.
The concerned investor has a lot to worry about, but even the most laid-back traders worry about security. Today's most popular decentralized network and cryptocurrency is Bitcoin, which runs on blockchain technology — a fancy phrase for a distributed ledger of transactions. Though Bitcoin is the most popular, it's still one of the most basic cryptocurrencies in existence, allowing for peer-to-peer transactions and few other financial applications., which allows for certain additional features like running decentralized applications.
However, to run code on the network, users are required to pay a fee called “gas.” This “gas” is measured in Ethereum's native ETH token, and it essentially covers the cost of computation for the code being run. Think of it as a transaction fee, but for performing any action on the blockchain.
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