What Is A Smart Contract?

A smart contract is a self-executing contract with predefined terms and conditions written in code. It operates on a blockchain platform and automatically executes actions or transactions when specific conditions are met. Smart contracts eliminate the need for intermediaries and provide transparency, security, and efficiency in various applications such as finance, supply chain management, and decentralized applications (dApps).

An infographic on Smart Contracts, how they work on blockchain, and the industries that use them.

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