DeFi vs CeFi differ in structure, control, and transparency. DeFi operates on blockchain with smart contracts, enabling peer-to-peer financial services without intermediaries. Users retain control of funds and enjoy transparency and automation. CeFi relies on centralized institutions like banks and exchanges, which manage user assets and require trust in third parties. While DeFi offers innovation and freedom, CeFi provides user-friendly platforms and regulatory compliance. Both models are evolving and often coexist to serve different user needs.