Smart Contract
A smart contract is a self-executing program stored on a blockchain that automatically enforces the terms and conditions of an agreement when predefined conditions are met. These contracts eliminate the need for intermediaries, ensuring trustless and transparent transactions between parties. Smart contracts are fundamental to decentralized applications (dApps), enabling functionalities such as token issuance, decentralized finance protocols, and supply chain management.
For web3 developers, writing efficient and secure smart contracts is crucial, as errors or vulnerabilities can lead to significant financial losses or exploitation. Languages like Solidity are commonly used for developing smart contracts on Ethereum and EVM chains, providing the necessary tools and frameworks to build robust decentralized solutions.