The Power of Smart Contracts: What You Need to Know Introduction Smart contracts are digital protocols that execute and enforce the terms of a contract automatically. The contracts are self-executing and operate on blockchain technology, making them secure, transparent, and tamper-proof. Smart contracts are set to revolutionize the way we do business, offering a faster, more efficient, and cost-effective way to transact with each other. In this article, we will explore the key features of smart contracts and how they can benefit businesses. How Do Smart Contracts Work? Smart contracts are written in code and are executed by a blockchain network. They operate using a set of rules and conditions that are agreed upon by the parties involved in the contract. Once the conditions are met, the contract is automatically executed, and payments or other forms of transactions are made. Benefits of Smart Contracts Smart contracts offer numerous benefits to businesses, including increased ef...