Smart Contract
A smart contract is a self-executing digital agreement written in code and deployed on a distributed, decentralized blockchain network. It automates and enforces the terms of an agreement between parties without the need for intermediaries or external enforcement. Key benefits of smart contracts include enhanced security, transparency, efficiency, and accuracy. They find applications in finance, supply chain management, real estate, voting systems, and more. Notable examples include decentralized exchanges, lending platforms, NFT creation, insurance products, and blockchain-based gaming. Smart contracts have the potential to reshape various industries and continue to evolve with new innovative use cases.