DeFi and DApps are two of the most popular innovations in the Fintech Industry. As both run on the Ethereum Blockchain, people often get confused between the two. Decentralized Finance or DeFi is slowly disrupting the finance industry with the various advantages it offers, such as transparency security, to name a few. It is based on distributed ledgers and provides the different financial services offered by traditional financial institutions such as lending, borrowing, asset management, etc. DApps are applications developed using the Ethereum blockchain. It is similar to standard applications. The main difference is that DeFi is built on DApps and is concerned with financial use cases, while DApps can develop many other applications based on gaming, education, etc.