Understanding the Position of Smart Contracts within the Crypto Space

While digital currencies like Bitcoin and Ethereum have introduced attention to the potential of decentralized finance, smart contracts are the unsung heroes which can be driving innovation across industries. These self-executing contracts provide new ways for parties to interact with one another in a trustless, transparent, and automatic manner. But what precisely are smart contracts, and what role do they play within the crypto space?What are Smart Contracts?At their core, smart contracts are self-imposing agreements where the terms of the contract are written directly into lines of code on a blockchain. Fairly than relying on intermediaries reminiscent of banks, lawyers,…