How does smart chain work?

Could you elaborate on the workings of a smart chain, specifically how it functions and the key mechanisms involved? I'm curious to understand the technical details behind its operation and how it differs from traditional blockchain technology. Could you explain the role of smart contracts and how they are executed on a smart chain? Additionally, what are the advantages of using a smart chain and how does it contribute to improved scalability, security, and efficiency in the cryptocurrency and financial landscape? Thank you for your time and expertise in this field.