Smart Contract
A smart contract is self-executing code stored on a blockchain that runs when predefined conditions are met. It can automate transfers, agreements, and business logic.
Smart contracts reduce the need for intermediaries but require careful auditing to avoid security risks. They are widely used in decentralized finance applications.
Related Terms
Blockchain
Blockchain is a distributed ledger technology that records transactions in linked blocks across a ne...
DeFi
Decentralized Finance
DeFi refers to financial services built on public blockchains using smart contracts. It enables lend...
Cryptocurrency
Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on ...
API
Application Programming Interface
An API is a set of protocols and tools that allows different software applications to communicate wi...
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