What Is a Smart Contract?

A smart contract is an agreement between two people in the form of computer code.

They run on the blockchain, so they are stored on a public database and cannot be changed.

The transactions that happen in a smart contract are processed by the blockchain, which means they can be sent automatically without a third party. This means there is no one to rely on!

The transactions only happen when the conditions in the agreement are met — there is no third party, so there are no issues with trust.

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