To understand the transformative impact of decentralized finance (DeFi), it’s important to explore its journey from conceptualization to modern-day innovation. The Pre-Bitcoin Era DeFi’s roots trace back to cryptographic advancements like RSA public-key cryptography in 1978, which laid the foundation for secure digital interactions. Early digital currency experiments such as DigiCash and E-Gold further explored the potential for decentralized financial systems. The Birth of Smart Contracts In 1994, computer scientist Nick Szabo introduced the concept of smart contracts, which enabled automated, trustless financial operations. This innovation provided the blueprint for the programmable financial tools central to DeFi. The Modern Foundation
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