What Are Smart Contracts?

Smart contracts are self-executing computer programs that run on a blockchain. They automatically enforce agreements when predefined conditions are met, eliminating the need for intermediaries like lawyers or banks. Think of them as digital contracts that execute themselves when certain criteria are fulfilled1.

Ethereum and Smart Contracts

Ethereum is a popular blockchain platform specifically designed to support smart contracts. It uses a programming language called Solidity to write these contracts. Once deployed, smart contracts on Ethereum are immutable, transparent, and decentralized, ensuring that they execute exactly as programmed without any interference1.