2min chapter

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#181 – Sergey Nazarov: Chainlink, Smart Contracts, and Oracle Networks

Lex Fridman Podcast

CHAPTER

Decentralized Finance - What Is It?

DeFi is a type of hybrid smart contract taking on the contractual agreements you traditionally find in the financial global financial system, right? And that's basically the world of lending and yield generation. Derivatives allow us to say, hey, something's going to happen; I'm either going to protect myself by getting paid if it happens or benefit from it happening. DeFi takes all of those agreements into a different format.

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