3 unique things to know about smart contracts

1. What is a smart contract?
   A smart contract is a programmable contract that allows two counterparties to set conditions of a transaction without needing to trust another third party for execution.

2. How does it work?

Smart contract works on the “ if this, then that” principle. Whenever a specific condition is fulfilled, the smart contract will carry out the operation as programmed.

1. Why the smart contract is important?

Multiple smart contracts are combined to operate with each other, known as decentralized applications(defi).

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