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 that are driving innovation across industries. These self-executing contracts offer new ways for parties to interact with each other in a trustless, transparent, and automated manner. However what exactly are smart contracts, and what function 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. Relatively than counting on intermediaries equivalent to banks, lawyers, or…