Smart Contracts - Page 13

Smart contracts are self-executing programs stored on a blockchain that automatically run when predefined conditions are met. They remove the need for intermediaries by enforcing rules and agreements directly through code. Once deployed, smart contracts operate transparently and cannot be easily altered. They are widely used in DeFi platforms, NFT marketplaces, and decentralized applications. By enabling trustless automation, smart contracts significantly expand what blockchains can do beyond simple transactions.