Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Faculty Publications Book Chapter Faculty Publications- Book Chapter Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Creator An entity primarily responsible for making the resource Sinha, Rishav; Jindal, Aashima Sinha Title A name given to the resource The Rise of Defi: Functional Applications and Its Comparison With Conventional Finance Date A point or period of time associated with an event in the lifecycle of the resource 01-01-2025 Source A related resource from which the described resource is derived Regulation and Innovation in Financial Markets;pp.121-148 Identifier An unambiguous reference to the resource within a given context <a href="https://doi.org/10.4018/979-8-3373-1404-4.ch005" target="_blank" rel="noreferrer noopener">https://doi.org/10.4018/979-8-3373-1404-4.ch005</a> <br /><br /><a href="https://www.scopus.com/pages/publications/105023347988?origin=resultslist" target="_blank" rel="noreferrer noopener">https://www.scopus.com/pages/publications/105023347988?origin=resultslist</a> Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant Sinha R., Christ University, India; Jindal A.S., Christ University, India Description An account of the resource Decentralized Finance (DeFi) is rapidly transforming the traditional financial system by introducing a permissionless, transparent, and trustless financial ecosystem powered by blockchain technology. It eliminates intermediaries by utilizing smart contracts on public blockchains like Ethereum, thereby promoting financial inclusion and operational efficiency. This paper explores the fundamental concepts of DeFi, the underlying technology including Ethereum, smart contracts, and Layer 2 solutions, and the wide array of its applications such as (DEXs), lending/borrowing platforms, yield farming, and stablecoins. In addition to examining the functional advantages of DeFi like reduced transaction costs and increased accessibility, the paper also critically analyzes the potential risks including smart contract vulnerabilities, regulatory concerns, and systemic dependencies. A special focus is given to the Indian regulatory framework and how it compares with global jurisdictions. The paper concludes with a discussion on the future prospects of DeFi. 2026, IGI Global Scientific Publishing. All rights reserved. Publisher An entity responsible for making the resource available IGI Global Relation A related resource ISBN: 979-833731406-8; 979-833731404-4; Language A language of the resource English Type The nature or genre of the resource Book chapter Rights Information about rights held in and over the resource Restricted Access; Hardcopy may be available in the library Format The file format, physical medium, or dimensions of the resource online