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It's automatically enforced based on pre-programmed conditions, removing the need for a middleman and streamlining the process. This realization was truly "aha!" moment because it highlights the potential of crypto for automation and trustless interactions.
It's a shift from relying on institutions to verify agreements to a system where the code itself guarantees execution.
My "aha!" moment was encountering smart contracts concept for the first time. Traditional contract – a physical document signed by both parties. With smart contracts, it clicks that the agreement itself lives on the blockchain.