Too Long; Didn't Read
Smart contracts are the most revolutionary innovation to come from blockchain technology. They aim to be secure, tamper-proof, and self-executing, which gives tremendous advantages in speed and cost over traditional financial contracts. Smart contracts have applications in the majority of today’s biggest industries including retail, real estate, education, healthcare, and transportation industries. There are currently less than 20,000 active developers in DeFi, which is less than what is needed for a global scale application of smart contracts. The current smart contract development paradigm is needlessly complex.