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Blockchain is a distributed ledger technology that records and verifies transactions across a network of computers. It consists of a chain of blocks, each containing a list of transactions. This technology is decentralized, meaning there is no central authority or intermediary involved in the verification process. Instead, transactions are validated by a network of nodes (computers) through a consensus mechanism. Blockchain is known for its security, transparency, and immutability, making it a foundation for various applications, including cryptocurrencies.

Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments, cryptocurrencies operate on decentralized networks, typically based on blockchain technology. They enable secure and transparent peer-to-peer transactions, often without the need for intermediaries like banks. Bitcoin, Ethereum, and many other cryptocurrencies are used for various purposes, including online payments, investments, and as a means of transferring value across borders.

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. It operates on a decentralized blockchain network and is often referred to as 'digital gold' due to its store of value properties. Bitcoin is used for online transactions, but it's also seen as a long-term investment asset by many. It's known for its limited supply of 21 million coins and its role in pioneering the cryptocurrency space.

Ethereum is a blockchain platform and cryptocurrency created by Vitalik Buterin in 2015. Unlike Bitcoin, Ethereum is designed to support not only digital currency but also decentralized applications (DApps). Its blockchain uses smart contracts, self-executing contracts with the terms of the agreement directly written into code. This allows developers to create a wide range of applications, including decentralized finance (DeFi) projects, games, and more. Ether (ETH) is the native cryptocurrency used to power these transactions and smart contracts on the Ethereum network.

DeFi, short for Decentralized Finance, refers to a category of financial services and applications built on blockchain technology. These applications aim to recreate traditional financial systems, such as lending, borrowing, trading, and asset management, in a decentralized and permissionless manner. DeFi eliminates the need for intermediaries like banks, enabling users to interact directly with smart contracts on blockchain platforms like Ethereum. Users can earn interest on their crypto holdings, trade assets, and access financial services without relying on traditional institutions.