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Smart Contract Platform

Definition

A Smart Contract Platform is a blockchain-based system that allows for the creation, deployment, and execution of smart contracts. These platforms provide the necessary infrastructure, including programming languages and consensus mechanisms, to support decentralized applications. Smart contracts are self-executing agreements with the terms of the agreement directly written into code, automating the enforcement of contractual clauses. Such platforms are foundational to the operation of decentralized finance (DeFi) and other blockchain innovations.