What Are Smart Contracts? | Binance Academy
Smart contracts are an essential part of the Ethereum network. Click here to learn more about this powerful technology, and why they can be revolutionary.
Key Takeaways A smart contract is a self-executing computer program stored on a blockchain that automatically carries out the terms of an agreement when preset conditions are satisfied, removing the need for a third party to verify, enforce, or intermediate the transaction. Smart contracts power the majority of blockchain-based applications, including decentralized exchanges (DEXs), non-fungible token (NFT) marketplaces, and decentralized autonomous organizations (DAOs). Once deployed to a blockchain, a smart contract's code is publicly visible and, on most networks, cannot be modified.…
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