Glossary Crypto & Web3
DeFi
Decentralised finance: lending, trading and derivatives run by smart contracts rather than by a bank or broker. Users keep custody of their assets, and also keep the risk.
Seen in our coverage of DeFi
Stories where this term does real work, rather than appearing in passing.
More from the glossary
Private key
The secret number that authorises spending from a crypto address. Anyone who has it controls the…
Circuit breaker
An automatic pause in trading triggered by a sharp move. The aim is to let information…
Gas fee
The charge paid to have a transaction processed on a blockchain. Fees rise with congestion, which…
Open source
Software published under a licence that lets anyone inspect, modify and redistribute it. In AI the…