The Blockchain Library

# Smart Contract Content type: Glossary Term Summary: A self-executing program stored on a blockchain that automatically enforces and executes the terms of an agreement when predetermined conditions are met. Smart contracts are deterministic, immutable once deployed, and form the backbone of decentralized applications. Related resources: - Gas Fee (Glossary Term): https://theblockchainlibrary.com/glossary/gas-fee

intermediate

Smart Contract

A self-executing program stored on a blockchain that automatically enforces and executes the terms of an agreement when predetermined conditions are met. Smart contracts are deterministic, immutable once deployed, and form the backbone of decentralized applications.

Examples

A simple escrow contract releases funds only when both parties confirm delivery.
A DEX's AMM contract automatically trades tokens based on pool ratios.

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Related Terms

Gas Fee

A fee paid to process a transaction or execute a smart contract on a blockchain. Gas fees compensate the network's validators/miners for the computational work of processing transactions. Fees vary with network demand and transaction complexity.