💹 #DeFi: What are #flash #loans
💠Thanks to #smartcontracts on the #blockchain, there is no need to make a file to convince your #banker of your #solvency. Anyone can interact with a DeFi protocol and #borrow a certain amount of #money, in #exchange for a #collateral #deposit. This is the idea behind DeFi #lending. The rules of the loan and repayment are governed by the code in the blockchain.
https://medium.com/veniceswap/defi-what-are-flash-loans-c82cb32d4deb
💠Thanks to #smartcontracts on the #blockchain, there is no need to make a file to convince your #banker of your #solvency. Anyone can interact with a DeFi protocol and #borrow a certain amount of #money, in #exchange for a #collateral #deposit. This is the idea behind DeFi #lending. The rules of the loan and repayment are governed by the code in the blockchain.
https://medium.com/veniceswap/defi-what-are-flash-loans-c82cb32d4deb
Medium
DeFi: What are flash loans
In the history of traditional finance, taking out a loan from a bank has always been accompanied by fairly cumbersome administrative…