What is a smart contract?
A smart contract is a programmable contract that allows two counterparties to set conditions of a transaction without needing to trust another third party for execution.How does it work?
Smart contract works on the “ if this, then that” principle. Whenever a specific condition is fulfilled, the smart contract will carry out the operation as programmed.
- Why the smart contract is important?
Multiple smart contracts are combined to operate with each other, known as decentralized applications(defi).
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