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 which are driving innovation throughout industries. These self-executing contracts offer new ways for parties to interact with each other in a trustless, transparent, and automated manner. But what exactly are smart contracts, and what role do they play in the crypto space?What are Smart Contracts?At their core, smart contracts are self-enforcing agreements the place the terms of the contract are written directly into lines of code on a blockchain. Reasonably than counting on intermediaries akin to banks, lawyers,…