Decentralized Finance (Defi) has been the most popular use case in the cryptocurrency space that has taken the industry by storm recently. Being the single biggest driver of growth in the crypto market this year, Defi shows great promise to move cryptocurrencies closer to mass adoption. In this Part 1 of our 3-part series on Defi Primer, we start off covering the most basic concepts of conventional finance, in comparison with decentralized finance and introduce some of the most fundamental concepts and terminologies used in the Cryptocurrency and Defi industry.

To take a deep dive into detailed concepts such as flash loans, liquidity pools, Automated Market Makers(AMMs), atomic swaps, yield farming, etc., stay tuned for Part 2 and Part 3!