[Solved] What is a Smart Contract? How do they work

2) Provide a first section (200-250 words) explaining, with supporting source material, the following questions (Do not quote any of the source material, you must explain in your own words but properly cite material found in the assigned sources):
What is a Smart Contract?
How do they work?
What is the utility (what are the benefits)?
How do these differ from Ricardian Contracts?
3) Draft a second section (200-250 words) explaining, with supporting source material, the following questions (Do not quote any of the source material, you must explain in your own words but properly cite material found in the assigned sources):
            How and why was Ethereum developed?
What are the core components of Ethereum?
How did Ethereum contribute to the development of Smart Contracts?
4) Provide three (3) questions that you would like to ask other classmates in relation to the weekly reading material. These need to be specific questions based on weekly reading material. Do not just ask general questions.