A system is decentralized if it is fault and attack-resistant with a remote likelihood of collusion or creating a common point of control, with a sufficient number of diverse and independent contributors, political actors, and social influencers operating the system’s logic.
Deep dive into decentralization with our blog series here.
Decentralized Autonomous Organization (DAO)
A DAO is a protocol – a collection of code that replicates an organization (O) on a permissionless decentralized public blockchain (D), operating autonomously (A). A DAO can work independently of anyone or with people by incorporating various built-in incentives to induce them to engage, interact and use the protocol optimally.
Decentralized Finance (DeFi)
Decentralized Finance or DeFi utilizes peer-to-peer financial services on permissionless decentralized blockchains to extend – not replace – the global financial system. It is a set of composable financial tools that are trust-minimized, transparent, and accessible to anybody on the internet.
Stablecoins are crypto-assets that replicate established stores of value – like currencies and commodities – to create a digital version of the cash you carry in your pocket.