What Are Smart Contracts and How Do They Work?

Smart contracts are one of the most powerful innovations in blockchain technology. They are self-executing agreements with terms written directly into code, enabling complex transactions without the need for intermediaries. From decentralized finance to digital identity, smart contracts are redefining how we interact online.

In this explainer, Yaya Jata Fanusie, Stella Millspaugh, and Julen Payne break down:

• What smart contracts are and how they work
• Their benefits, real-world use cases, and top blockchain platforms
• Key players in development, auditing, and research
• Why regulatory clarity remains one of the biggest hurdles to broader adoption