What are Smart Contracts and How Do They Benefit Blockchain? #1143
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constellation-galaxy
hiroshi960617
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What are smart contracts, and why are they important for blockchain applications? |
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Answered by
constellation-galaxy
Jun 10, 2025
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Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute when predefined conditions are met, removing the need for intermediaries. In blockchain, they enhance security, reduce costs, and increase efficiency by automating complex business logic in a transparent and trustless manner. They are mainly used in blockchain platforms like Ethereum. |
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Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute when predefined conditions are met, removing the need for intermediaries. In blockchain, they enhance security, reduce costs, and increase efficiency by automating complex business logic in a transparent and trustless manner. They are mainly used in blockchain platforms like Ethereum.