Smart Contract Execution

Definition ∞ Smart contract execution refers to the automatic and irreversible performance of predefined terms and conditions encoded within a blockchain program. Once triggered, these contracts run without human intervention, ensuring transparent and verifiable agreement fulfillment. This process forms the basis of decentralized applications and autonomous transactions.
Context ∞ The situation surrounding smart contract execution often involves discussions about security vulnerabilities and the need for rigorous auditing to prevent exploits. A critical future development involves advancements in formal verification methods and the creation of more resilient programming languages to minimize risks associated with complex contract interactions.