Smart Contracts Explained: Definition, Use Cases, and Real-World Examples Smart contracts are one of the most powerful innovations introduced by blockchain technology. They enable automated, transparent, and trustless transactions without relying on intermediaries such as banks, lawyers, or centralized platforms. Today, smart contracts are widely used across decentralized finance (DeFi), NFTs, supply chain management, gaming, and many other industries. Understanding how they work is essential for anyone exploring the future of digital assets and blockchain ecosystems. What Are Smart Contracts? A smart contract is a self-executing digital agreement written in code and deployed on a blockchain. The contract automatically enforces predefined rules and executes actions when specific conditions are met. Once deployed, smart contracts cannot be altered, ensuring transparency and immutability. This makes them highly reliable for agreements that require trustless execution. In simple terms: If...
