What are the advantages of using blockchain technology in DeFi development services? | Forum

Blockchain technology offers several advantages when utilized in DeFi development services. Firstly, it provides transparency by recording all transactions on a public ledger, which can be audited and verified by anyone. This transparency builds trust and reduces the risk of fraud. Secondly, blockchain ensures immutability, making it virtually impossible to alter or manipulate transaction records. This enhances the security and integrity of financial transactions. Moreover, blockchain enables decentralized and peer-to-peer interactions, eliminating the need for intermediaries and reducing transaction costs. These advantages make blockchain a powerful tool for building secure and efficient DeFi platforms.

Source: https://www.appdupe.com/decentralized-finance-defi-development