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Smart Contracts

Self-executing code that automates agreements

What is Smart Contracts?

Programs on a blockchain that execute automatically when conditions are met, no lawyers, no middlemen, no trust needed. They power DeFi, DAOs, NFTs, and most of what makes Web3 interesting. If you're building in Web3, smart contracts are your product's backbone.

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In plain words

"A vending machine for agreements — you put in the input, the outcome is guaranteed. No arguing, no lawyers."

How it works

Key takeaways

  • Self-executing — runs when conditions are met

  • Immutable once deployed (usually)

  • Trustless — no need to know the counterparty

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Real-world example

A freelancer locks payment in a smart contract. When the client confirms delivery, funds release automatically. No invoice chasing.

Related terms

DeFi

Decentralized Finance

DAO

Decentralized Autonomous Organization

On-Chain Governance

Token-holder voting on protocol decisions

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