Definition ∞ A Smart Contract Protocol is a set of rules and mechanisms governing the execution of self-executing contracts on a blockchain. These protocols define how smart contracts interact with the network, handle data, and manage asset transfers. They ensure the secure and automated operation of decentralized applications.
Context ∞ Smart Contract Protocols are a fundamental component of decentralized finance (DeFi) and other blockchain applications, frequently featured in news concerning network upgrades or new platform launches. The security and efficiency of these protocols are critical for the reliability and scalability of the entire digital asset ecosystem.
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