Contract

Definition ∞ A ‘Contract’ is a set of rules and code that automatically executes when predefined conditions are met. In blockchain technology, these are known as smart contracts, enabling automated agreements without intermediaries. They are foundational to decentralized applications.
Context ∞ The development and security of ‘Contracts’ are paramount in the decentralized application ecosystem. News often focuses on new contract deployments, audits, and vulnerabilities discovered in existing smart contract code, impacting user funds and platform integrity.