Smart contract finance refers to the use of self-executing agreements, or smart contracts, to automate financial operations and services on blockchain networks. These contracts automatically execute predefined actions when specific conditions are met, without the need for intermediaries. This enables decentralized lending, borrowing, trading, and insurance protocols. It fundamentally restructures traditional financial interactions.
Context
Smart contract finance is a driving force behind the decentralized finance (DeFi) movement, frequently dominating crypto news headlines. Discussions often focus on the innovative financial products and services it enables, as well as the inherent risks associated with code vulnerabilities and oracle dependencies. The expansion of smart contract platforms and the regulatory scrutiny they face are key developments to observe. It represents a significant shift in financial service delivery.
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