@parry8

Smart contracts are self-executing contracts with the terms directly written into code, which automatically execute actions once predefined conditions are met. They eliminate the need for intermediaries, reducing the risk of human error or fraud. On blockchain platforms like Ethereum, smart contracts improve efficiency by automating complex processes such as transactions, lending, or trading, ensuring transparency and reducing costs. However, while they enhance security, any vulnerabilities in the contract code could lead to exploits. Therefore, auditing and testing smart contracts thoroughly is crucial for maintaining the integrity and reliability of decentralized applications (dApps).

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