Role of Smart Contracts in DeFi
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. In the context of DeFi, they serve several critical functions:Automation: Smart contracts automate financial processes, such as lending, borrowing, and trading, without the need for intermediaries like banks or brokers.Trust and Security: They ensure trust and security by executing predefined terms on the blockchain, making fraud and manipulation difficult.Transparency: All smart contract ...
Role of Smart Contracts in DeFi
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. In the context of DeFi, they serve several critical functions:Automation: Smart contracts automate financial processes, such as lending, borrowing, and trading, without the need for intermediaries like banks or brokers.Trust and Security: They ensure trust and security by executing predefined terms on the blockchain, making fraud and manipulation difficult.Transparency: All smart contract ...
