An on-chain smart contract is a self-executing agreement with the terms directly written into lines of code and stored on a blockchain. These contracts automatically execute predefined actions when specific conditions are met, without requiring intermediaries. Their execution is transparent, immutable, and verifiable by all network participants. They form the programmable foundation for decentralized applications and digital asset logic.
Context
On-chain smart contracts are a central focus in cryptocurrency news, particularly concerning developments in decentralized finance and new blockchain applications. Reports often cover security audits, new contract deployments, or exploits that reveal vulnerabilities. The reliability and correctness of these contracts are paramount for the security and functionality of the broader digital asset ecosystem.
A new AMM mechanism design achieves provable arbitrage resilience and strategy proofness, shifting MEV mitigation from consensus to the application layer.
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