Smart Contract Definition - Glossary

Smart Contract is a self-executing digital agreement with terms directly written into code on a blockchain.

Smart Contract is a self-executing program on a blockchain that automatically enforces and verifies the terms of an agreement. It eliminates the need for intermediaries by executing transactions when predefined conditions are met. This enhances security, transparency, and efficiency in transactions. Once deployed, smart contracts are immutable and tamper-proof, ensuring trustless operations between parties. They are widely used in various applications, including financial services, supply chain, and decentralized applications (dApps). By reducing human error and increasing automation, smart contracts are revolutionizing how we conduct digital agreements and transactions in the crypto and blockchain space.