My library folder editing and smart playlist

I am using my library instead of itune library or spotify. When I try to add a new folder I get the option of smart playlist. What is smart playlist and how is it different from regular playlist. Also I am not able to edit the folder name after it is created. Please I need help from more experienced people, I am new in djay world.

Question about my library folders

Hey Bassem,
Smart playlist is a playlist you can create on iTunes.
This thing called “rules” to tell the playlist what song to add automatically.
Since you don’t use iTunes, Djay now has it’s own way to do this.
Called “Filter Bar”, you can set your rules so that songs with the rules you enter will be present.

Here is the link for Djay Mac Manual, you can learn a lot from these manuals…

Yes, I tried that too with no luck. Delete, unfortunately is your answer.

Thank you Laidback Fred for your kind and helpful response.
I still do not have the option to rename a playlist after I create it, the only 2 options are either delete it or change the order ( see picture below). Is there any way we can edit the names of these playlists?

Thanks a lot LaidbackFred for your help