FAQ About Smart Contracts
What is a smart conract?
A smart contract is a self-executing computer program that automatically enforces the terms of an agreement between parties. It is a type of blockchain technology that enables the creation of decentralized applications (DApps) on a blockchain network.
Smart contracts are designed to be tamper-proof and transparent, ensuring that all parties involved in the agreement have access to the same information and that the terms of the contract are enforced in a secure and reliable way. They operate on a "if-then" logic, where the contract automatically executes the specified actions when certain conditions are met.
Smart contracts are widely used in a variety of industries, including finance, real estate, and supply chain management, to automate and streamline complex processes and reduce the need for intermediaries.
