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Explain the Concept of “Smart Contracts.”

Self-Executing Code. Immutable Terms. No Intermediary. DeFi Foundation 51.
Greeks.Live18.11.25

Explain the Concept of “Smart Contracts.”

Smart Contracts are self-executing contracts with the terms of the agreement directly written into code. They run on a blockchain, meaning they are immutable and automatically enforce the agreed-upon conditions without the need for an intermediary.

They form the foundation for decentralized applications (dApps) and the entire DeFi ecosystem.

What Are the Main Differences between Smart Contracts and Traditional Legal Contracts?
How Do Smart Contracts on a Blockchain Automate Financial Derivatives?
How Do Smart Contracts on a Private Blockchain Differ from Stored Procedures in a Traditional Database?
How Does the Lack of a Traditional Intermediary in a DEX Affect the Concept of Fiduciary Duty?

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