I will be almost quoting finematics video "Code is Law"

https://www.youtube.com/watch?v=pWGLtjG-F5c&t=183s

as that was my source for information.

Short and condensed

I am sure more then a handful of people, who are trying to get their head wrapped around ethereum or defi, have asked themselves.

First Their is a saying "Code is Law" which relays to the use of technology instead of humans to enforce rules.

In one sense code dictates what we can and cannot do.

What are Smart Contracts?

A smart contract is ,basically in a nutshell, a code or a piece of code that can be deployed instantly and automatically, and also in a deterministic way.
Smart Contract Codes are more then times stored and deployed on a blockchain to make use of their trustless and highly secure nature.
Smart contracts have capabilities of even calling other smart contracts.
smart contracts also can send, receive, and store funds or assets.
They utilize the if-then semantics which makes them very easy to edit/program if needed.
Smart contracts want to remove the human factor(to err is human)
from decision making.
"The human factor is often proven to be the most error-prone and unreliable element of the standard, traditional contracts." - Finematics

I hope im on the right track so far :D or if im wrong.

Im a adult and i do appreciate constructive criticism. *i do miss the days when adults were able to talk civilized and not get all Ye****-bellied and S***. Excuse my language.

Side note - "Blockchain technology is a truely revolutionary idea. Look into them youll like what you learn."