Decentralized Finance or DeFi has been the biggest story in the blockchain space in the year 2020. This segment of blockchain has exhibited phenomenal growth as the total value locked in DeFi protocols swelled from $690.9 million on 1 January 2020 to $13.43 billion on 26 December 2020. What is DeFi? Revolutionary FinTech leaders favor DeFi very strong l y. They believe it is the disruption that could prevent the happening of another financial crisis like the year 2008. That is because decentralized finance (DeFi) is built on top of a decentralized ledger and ensures transparency in all financial transactions. Moreover, the transaction approvals in the DeFi ecosystem come from the network participants and these participants are incentivized for facilitating the transaction approvals. Along with financial transparency, DeFi provides financial accessibility and inclusiveness to those who do not have access to the current financial system. The DeFi ecosystem started as a system to de...