Blockchain introduces decentralized trust in peer-to-peer networks, advancing security and
democratizing systems. Yet, a unified definition for decentralization remains elusive. Our …

The decentralized and trustless nature of cryptocurrencies and blockchain technology leads
to a shift in the digital world. The possibility to execute small programs, called smart …

To non-experts, the traditional Centralized Finance (CeFi) ecosystem may seem obscure,
because users are typically not aware of the underlying rules or agreements of financial …

How financial technology impacts financial inclusion and democratic access to financial
services is central for policy discussions and applied research (World Bank Group, 2016; …

Decentralization, which has backed the hyper growth of many blockchains, comes at the
cost of scalability. To understand this fundamental limitation, this paper proposes a …

Bitcoin and Ethereum are frequently promoted as decentralized, but developers and
academics question their actual decentralization. This motivates further experiments with …

The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on
top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate …

Abstract Decentralized Finance (DeFi) is the (r) evolutionary movement to create a solely
code-based, intermediary-independent financial system—a movement which has grown …

Blockchain promises to provide a distributed and decentralized means of trust among
untrusted users. However, in recent years, a shift from decentrality to centrality has been …

Decentralized Finance (DeFi) is a new paradigm in the creation, distribution, and utilization
of financial services via the integration of blockchain technology. Our research conducts a …