Definition ∞ Decentralized contracts, widely known as smart contracts, are self-executing agreements with terms directly encoded on a blockchain. These agreements operate without requiring intermediaries, automatically performing predefined actions when conditions are met. Their execution is transparent, immutable, and resistant to external interference. They represent a foundational element of many decentralized applications.
Context ∞ The security and auditability of decentralized contracts remain central topics of discussion, particularly following incidents involving vulnerabilities. Development efforts currently focus on improving programming language safety and formal verification methods. Future advancements seek to broaden their applicability across various industries, from finance to logistics, with enhanced reliability.
Blockchain Knowledge
Cryptocurrency Foundation
Cryptospace Newsfeed
