smart contract

Phonetic: /smɑːrt ˈkɒntrækt/

Part of Speech: noun

Category: To be determined

Smart contracts are programs that have been published on a public blockchain, and can be used by anyone. While they often contain agreements or sets of actions between parties that emulate a traditional legal contract, they are not, in and of themselves, legal documents. Smart contracts are automated actions that can be coded and executed once a set of conditions is met, and are the dominant form of programming on the Ethereum Virtual Machine.

Definition source: Consensys Software Inc., A Blockchain Glossary for Beginners

Sample sentence

N/A

Additional definitions

Smart contracts are self-executing contracts that exist on certain blockchain networks. Their conditions and terms are written directly into lines of code.

Source

See onchain program.

Source

Extended definition

No extended definition. ...yet

This word came from... the ether

Date first recorded: 2025-01-31

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