Smart Contract

A smart contract is a self-executing digital contract that is encoded and stored on a blockchain. It contains predefined rules, conditions, and agreements written in code. Smart contracts automatically execute and enforce the terms of the agreement without the need for intermediaries. They can facilitate a wide range of transactions, from simple asset transfers to complex financial agreements and decentralized applications. Smart contracts are transparent, tamper-proof, and verifiable on the blockchain, providing efficiency, security, and trust in various industries and applications.