What is a Smart Contract?
Self-executing contracts with the terms of the agreement directly written into code.
Key details
- Autonomous
- Executes automatically without intermediaries.
- Transparent
- Code and execution results are visible on the blockchain.
- Immutable
- Once deployed, the contract code cannot be changed.
- Trustless
- Parties don't need to trust each other, just the code.
Examples
- 01Automated token swaps on decentralized exchanges like Uniswap.
- 02Decentralized lending protocols like Aave or Compound.
- 03NFT minting and trading contracts.