College

Which is correct in the following statements about DeFi (Decentralized Finance)?

A. Not everyone can use DeFi.

B. Users must carry out real-name transactions on the DeFi platform.

C. After a transaction is carried out successfully on the DeFi platform, it can be canceled.

D. A user can trade cryptocurrencies on DeFi platforms.

Answer :

Final answer:

In assessing the statements about Decentralized Finance (DeFi), A and D are correct: not everyone can use DeFi, and users can trade cryptocurrencies on DeFi platforms. However, users do not need to conduct real-name transactions, and completed transactions cannot be canceled.


Explanation:

Understanding Decentralized Finance (DeFi)

Decentralized Finance, or DeFi, is a system that allows financial services to be conducted without the need for traditional intermediaries, like banks. Let’s evaluate each statement:

  1. A. Not everyone can use DeFi: This is correct. While DeFi platforms are accessible to anyone with an internet connection and a cryptocurrency wallet, some users may not be familiar or comfortable with the technology, limiting their ability to participate.
  2. B. Users must carry out real-name transactions on the DeFi platform: This is incorrect. One of the core principles of DeFi is the ability to remain pseudonymous; users are not required to provide real names to transact.
  3. C. After a transaction is carried out successfully on the DeFi platform, it can be cancelled: This is incorrect. Once a transaction is confirmed on the blockchain, it is permanent and cannot be cancelled. This immutability is a key feature of blockchain technology.
  4. D. A user can trade cryptocurrencies on DeFi platforms: This is correct. DeFi platforms offer various trading options for cryptocurrencies, allowing users to swap tokens directly without needing a centralized exchange.

In conclusion, the correct statements from the options are A and D.


Learn more about Decentralized Finance (DeFi) here:

https://brainly.com/question/52217862