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# The Role of Smart Contracts in Decentralized Finance (DeFi) ## Executive Summary Smart contracts serve as the foundational infrastructure of decentralized finance, replacing traditional financial intermediaries with self-executing code that automates financial operations on blockchain networks. These programmable contracts enable trustless transactions, transparent operations, and permissionless innovation across lending, trading, and stablecoin ecosystems while introducing unique security c

# Blockchain Ledger Immutability: The Foundation of Trust in Decentralized Systems ## Executive Summary **Blockchain immutability** refers to the fundamental property that once data is recorded on a blockchain ledger, it becomes permanent, tamper-proof, and cannot be altered or deleted. This feature is achieved through cryptographic hashing, block linking, consensus mechanisms, and decentralization, creating a verifiable historical record that forms the bedrock of trust in blockchain systems.