What is the meaning and uses of smart contracts.
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đź“… May 15, 2025
✍️ By oluwafemighty
A smart contract is a self-executing program that runs on a blockchain and automatically enforces the terms of an agreement when predefined conditions are met.
Some Key features of smart contracts are:
1. Autonomous: Once deployed, they operate without human intervention.
2. Immutable: The code cannot be changed after deployment (unless designed with upgradeability).
3. Transparent: Anyone can inspect the code and behavior on the blockchain.
4. Trustless: Parties don’t need to trust each other—only the code.
Example:
A smart contract for crowdfunding might work like this:
1. If the total contributions reach $10,000 by a certain date, the funds are released to the project.
2. If not, the money is refunded to the contributors.
Smart contracts are commonly written in languages like Solidity (for Ethereum).
Hope you learn something new
Good luck đź«¶