Smart Contract
Definition: A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. It automatically enforces and executes the terms of a contract based on predefined rules and conditions on the Ethereum blockchain, facilitating, verifying, or enforcing the negotiation or performance of a contract digitally.
Category: Blockchain Network
Example: A smart contract can be used to create a decentralized application (dApp) that automatically executes transactions when certain conditions are met, without the need for a central authority or intermediary.
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