In DeFi, a crypto transaction involves the transfer of assets between parties, typically recorded on a blockchain. However, off-chain transactions don’t necessarily always take place on a blockchain.| 1inch Network Blog | Web 3, DeFi & Crypto news
While the terms ‘coins’ and ‘tokens’ are often used interchangeably, the former are primarily used as payment cryptocurrencies, whereas the latter have a wider range of applications.| 1inch Network Blog | Web 3, DeFi & Crypto news
Smart contracts automate transactions and agreements, eliminating the need for intermediaries. They empower DeFi services to operate independently, fostering a transparent and efficient financial ecosystem.| 1inch Network Blog | Web 3, DeFi & Crypto news
Ethereum is a blockchain platform with a functionality for smart contracts, mostly used for decentralized finance (DeFi) applications and powered by Ether (ETH), its native cryptocurrency.| 1inch Network Blog | Web 3, DeFi & Crypto news
Bitcoin, as the first decentralized cryptocurrency, introduced the world to blockchain technology, paving the way for the overall expansion of the crypto space.| 1inch Network Blog | Web 3, DeFi & Crypto news
