Smart Contract

Self-executing contracts written into code.

Detailed Definition

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement without intermediaries.

Related in Crypto

Halving

A 50% reduction in mining rewards for cryptocurrency.

Stablecoin

Cryptocurrencies pegged to a stable asset like fiat.

Hash Rate

The measuring unit of the processing power of a blockchain.