Smart Contract

A smart contract is a self-executing coded program stored on a blockchain that runs automatically when predefined conditions are met. It removes the need for intermediaries, making transactions faster, more transparent, and less prone to errors. Smart contracts power decentralised applications (dApps) in areas such as finance, gaming, and supply chains, among others. Once deployed, they are difficult to modify, so accurate coding is important. The reliability and transparency of smart contracts are significant in building trust in dApps.