Smart contracts are self-executing contracts with the terms of the agreement directly written into code, enabling transactions to occur automatically when conditions are met. This innovative technology eliminates the need for intermediaries, reducing costs and increasing efficiency in various applications.

In the crypto ecosystem, smart contracts are primarily used on platforms like Ethereum, where they power decentralized applications (dApps). They enable functionalities such as token creation, lending, and decentralized exchanges.

As industries recognize the potential of smart contracts, their adoption is likely to expand beyond crypto. Use cases in supply chain management, real estate, and healthcare are already emerging, showcasing the transformative power of this technology.