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Which blockchain application enables decentralized finance (DeFi) services like lending and trading without intermediaries?
- NFT Marketplaces
- Smart Contracts
- Digital Identity
- Supply Chain
Answer: Smart Contracts
DeFi protocols use smart contracts to automate financial services: lending (Aave), trading (Uniswap), derivatives, and yield farming. Operate on public blockchains (Ethereum, Solana) with transparent, permissionless access. Risks include smart contract bugs, volatility, and regulatory uncertainty. Critical for fintech innovation questions.