smartcontracts
A smart contract is a self-executing program whose rules and obligations are encoded directly in software. The contract’s code and its stored state reside on a blockchain, and execution is carried out by the network’s consensus mechanism when predefined conditions are met.
Once deployed, a smart contract operates autonomously. Calls to its functions cause the contract to evaluate
Smart contracts are central to many blockchain platforms, notably Ethereum, which provides a Turing-complete execution environment
Key characteristics include automation, transparency, and tamper-resistance, but they are not a guarantee of legal enforceability
Common use cases include decentralized finance, token transfers and custody, escrows, non-fungible tokens, supply chain tracking,
Limitations and risks include coding errors, privacy concerns, scalability challenges, and regulatory uncertainty. While blockchain immutability