The technology that supports decentralized finance (DeFi) applications primarily revolves around blockchain and smart contracts. These innovations enable peer-to-peer financial transactions without intermediaries, fostering transparency and security. Users can lend, borrow, trade, and earn interest on their assets in a decentralized manner, thereby democratizing access to financial services. The use of blockchain technology ensures tamper-proof record-keeping and builds trust in the ecosystem, allowing for innovative financial solutions that operate outside traditional banking systems.