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Smart contracts are at the heart of the decentralized finance infrastructure as they manage the execution of transactions on the blockchain. Smart contracts play the important role of interfacing between the business and technological aspects of the blockchain as they are basically financial management protocols written in code format to regulate transactions on a decentralized record system. Currently, smart contracts on currently available and widely used blockchains like Bitcoin, have a centralized management method which limits the current capabilities of the system. This centralized management of smart contracts limits available blockchains because it makes them less secure and ultimately defeats the purpose of decentralization.