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What Are the Advantages of Smart Contracts over Traditional Contracts?

Smart contracts automate execution when predetermined conditions are met, eliminating the need for intermediaries like lawyers or banks. This automation leads to increased speed, lower transaction costs, and reduced risk of manipulation or error.

They offer transparency as the code is on a public blockchain. Their self-executing nature enforces trust directly through cryptography.

They are also immutable once deployed, providing certainty.

What Is a Smart Contract and How Does It Relate to Decentralized Finance (DeFi)?
What Are the Main Differences between Smart Contracts and Traditional Legal Contracts?
What Is the Difference between a Smart Contract and a Traditional Financial Derivative?
How Do Smart Contracts Reduce the Need for Intermediaries?