The purpose of this submission is to explore smart contracts in order to understand their current and future relevance to financial engineering as well as to demonstrate your understanding of the key

The purpose of this submission is to explore smart contracts in order to understand their current and future relevance to financial engineering as well as to demonstrate your understanding of the key concepts in smart contracts. Smart contracts and the blockchain platforms on which they run represent a distinct departure from traditional trading solutions as the ones introduced in the Financial Markets course. Your task is to compare smart contracts to those traditional trading solutions. In your report include the following:

1. Describe smart contracts.

2. Explain how smart contracts function and achieve this functionality (in the Ethereum network).