Smart Contract Intermediate
A smart contract is code stored on a blockchain that runs by itself once its conditions are met.
Smart contracts are the engine behind DeFi, NFTs and tokens. Because they do exactly what they are written to do and are hard to change afterwards, a bug or exploit can be expensive — audits reduce that risk but never remove it.
This definition is educational and not financial advice. Crypto is volatile and high-risk — always do your own research.
Related terms
Intermediate
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Private Key
A private key is the secret that controls a wallet and signs off on its transactions.
BeginnerStablecoin
A stablecoin is a crypto token built to hold a steady value, most often pegged to the US dollar.
IntermediateStaking
Staking is locking up a proof-of-stake coin to help secure its network, earning a reward for doing so.