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What Are Smart Contracts?

TheMotleyFool

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The rise of blockchain technology, especially the type used by Ethereum (CRYPTO: ETH), has caused smart contracts to skyrocket in popularity. For the uninitiated, smart contracts are programmable agreements, or protocols, that self-execute and enforce without the aid of any intermediaries. Other than the fact that they do not require a middleman (like a lawyer), they are not so different from regular contracts.

Long story short, smart contracts are at the heart of the $200 billion decentralized finance (DeFi) industry. Let's take a look at how they work, and how they can enrich investors' blockchain portfolios.

Image source: Getty Images.

Source Fool.com

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