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@article{190354,
        author = {Dr. Md Shahjahan},
        title = {DeFi Ecosystem: Concepts, Risks, and the Future of Decentralized Finance},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {8},
        pages = {1270-1274},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=190354},
        abstract = {Decentralized Finance (DeFi) is an emergent ecosystem of blockchain-native financial services that promises permissionless access, composability, and programmable finance. This paper provides a comprehensive, up-to-date analysis of DeFi’s core concepts and protocols, catalogs the principal risks (technical, economic, governance, and regulatory), evaluates recent empirical evidence of losses and systemic vulnerabilities, and assesses policy and technological responses to mitigate those risks. We propose an integrative risk taxonomy, discuss methods for empirical evaluation, and outline a research agenda bridging technical security, market microstructure, and regulation. The analysis draws on recent academic studies, industry reports, and policy papers (2021–2025) to reflect the rapidly evolving DeFi landscape.},
        keywords = {Decentralized Finance (DeFi), Smart contracts, Automated Market Makers (AMMs), Liquidity risk, DeFi regulation, DeFi ecosystem risks},
        month = {January},
        }