The Evolution of DeFi: From Peer-to-Peer Loans to Complex Financial Protocols
The Decentralized Finance (DeFi) landscape has undergone a radical transformation in just a few years. What began as a simple experiment in peer-to-peer crypto lending on the Ethereum blockchain has evolved into a complex, multi-layered ecosystem of financial protocols, rivaling traditional finance (TradFi) in its sophistication. This article traces the key evolutionary stages of DeFi, examines…
