@natashamalkovaa4

A smart contract is a self-executing contract with the terms of the agreement directly written into code on a blockchain. Once the predefined conditions are met, the contract automatically executes the agreed-upon actions, such as transferring assets, without the need for intermediaries. Smart contracts are typically used in decentralized applications (dApps) on platforms like Ethereum. They ensure transparency, security, and efficiency by being immutable (cannot be altered once deployed) and decentralized (executed on a distributed network). While they reduce human error and fraud, they also carry risks, such as coding bugs or vulnerabilities that could be exploited.

0 reply

0 recast

0 reaction