How Smart Contracts Function in Web3
Creation: A developer writes the smart contract using programming languages like Solidity (for Ethereum) or Rust (for Solana).
Deployment: The contract is deployed on a blockchain, where it is assigned a unique address and becomes accessible to users.
Execution: Users interact with the contract by sending transactions (e.g., sending cryptocurrency or data). Once the predefined conditions are met, the contract executes automatically.
Immutable and Transparent: All transactions and contract executions are recorded on the blockchain, making the process tamper-proof and auditable.