A smart contract is a self-executing program stored on a blockchain that automatically performs actions when certain conditions are met. These contracts remove the need for intermediaries by allowing transactions to happen automatically and securely.
Smart contracts are widely used on blockchain platforms like Ethereum. They power many decentralized applications, including decentralized finance (DeFi), NFT marketplaces, and blockchain-based services.
Because smart contracts operate on blockchain networks, they are transparent and difficult to alter once deployed. This increases trust and reduces the risk of manipulation.
Understanding smart contracts is important for anyone exploring blockchain technology, as they play a key role in modern decentralized systems and digital finance.
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