PancakeSwap (CAKE): Decentralized finance, or DeFi, aims to make society more financially inclusive by eliminating the need for intermediaries to facilitate transactions.
In the world of DeFi, users are increasingly engaging with autonomous markets powered by blockchain technology, i.e., decentralised exchanges (DEX). In contrast to centralised cryptocurrency exchanges such as Binance and Coinbase, which are run by a single corporate company, decentralised exchanges (DEXs) enable trading without an intermediary.
While Ethereum is the main choice for developing DeFi protocols, a Binance-backed protocol called PancakeSwap has emerged as a competitor.
What is PancakeSwap?
PancakeSwap is a decentralised exchange (DEX) that allows users to swap cryptocurrencies and tokens without the need for a centralised intermediary while maintaining custody of their tokens. It is based on automated smart contracts deployed on Binance Smart Chain (BNB), Binance’s blockchain platform.
PancakeSwap is si
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