What does “Smart Contract” mean? 🤖
It’s a program that runs on a blockchain network and executes pre-defined rules.
The idea is that certain operations can be carried out automatically when the conditions in the code are met.
That has opened the door to many applications in the Web3 world, such as decentralized applications and some decentralized finance systems.
But having the code on the blockchain doesn’t necessarily mean it’s free of bugs; software vulnerabilities can cause real risks.
#SmartContracts #Ethereum #Web3 #Blockchain
It’s a program that runs on a blockchain network and executes pre-defined rules.
The idea is that certain operations can be carried out automatically when the conditions in the code are met.
That has opened the door to many applications in the Web3 world, such as decentralized applications and some decentralized finance systems.
But having the code on the blockchain doesn’t necessarily mean it’s free of bugs; software vulnerabilities can cause real risks.
#SmartContracts #Ethereum #Web3 #Blockchain