Hello everyone! Today, the crypto challenge introduces 'Smart Contracts'. Smart contracts are an important innovation in blockchain technology, allowing agreements to be executed automatically without relying on intermediaries or trusting third parties. This feature has huge application potential in various fields such as finance, law, and supply chains! Let's see how smart contracts are changing our daily lives!
What is a Smart Contract?
Smart contracts are self-executing programs written on the blockchain; they automatically trigger related operations when the conditions in the contract are met. These contracts are stored on the blockchain, transparent and immutable, avoiding fraud and disputes that may exist in traditional contracts. Ethereum was the earliest platform for smart contracts and has driven the development of decentralized applications (DApps) and DeFi.