Definition ∞ A smart contract blockchain is a distributed ledger platform that supports the execution of self-executing agreements, known as smart contracts. These contracts automatically execute predefined actions when specific conditions are met, without the need for intermediaries. Such blockchains provide a secure and verifiable environment for programmatic transactions and decentralized applications. Ethereum is a prominent example of this technology.
Context ∞ The current discourse on smart contract blockchains often focuses on their role as the foundational layer for decentralized finance (DeFi) and Web3 applications. Key debates involve scalability limitations, high transaction fees, and the security vulnerabilities inherent in complex smart contract code. Future developments are directed towards improving throughput, reducing costs, and enhancing the security and auditability of smart contract execution environments.
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