What Is Smart Contract?

Smart contracts are computer programs that run on blockchain technology to automate and automatically execute agreements or provisions in a contract. 

Smart contacts are created using programming code and function based on predetermined rules. The program works within a decentralized environment, such as the Ethereum blockchain, and can be used for a variety of purposes, including buying, selling, or transferring digital assets.

The main advantages of smart contracts are high reliability and transparency. The program is run and verified by the blockchain network, eliminating the need for intermediaries or central authorities.

Thus, smart contracts reduce the risk of dishonesty and allow the parties involved to interact directly without requiring complete trust in third parties.

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