Smart Contract Utility

Definition ∞ Smart contract utility refers to the practical applications and functionalities enabled by self-executing contracts on a blockchain. These contracts automate agreements and transactions without intermediaries, facilitating diverse use cases from decentralized finance to supply chain tracking. The utility of smart contracts is a key determinant of the value and adoption of associated blockchain platforms.
Context ∞ The ongoing discourse on smart contract utility centers on expanding their capabilities beyond simple financial transactions to encompass complex real-world agreements. A significant debate involves the security vulnerabilities inherent in smart contract code and the methods for their mitigation. Critical future developments to watch for include the maturation of smart contract auditing tools and the creation of more robust, user-friendly decentralized applications.