Understanding the Role 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 supply new ways for parties to work together with each other in a trustless, transparent, and automatic manner. However what exactly are smart contracts, and what position do they play in 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. Slightly than relying on intermediaries akin to banks, lawyers,…