How do smart contracts on Ethereum make transactions faster, cheaper, and more secure, without any middlemen?

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asked Nov 8 in H&E by Mevx (1,460 points)

Smart contracts automate transactions directly on the blockchain, reducing costs and removing intermediaries. They’re transforming everything from DeFi, NFTs, and DAOs to supply chains and healthcare. But are they risk-free? What are the real-world challenges they face?
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