What is Smart contract?
Code deployed to a blockchain that runs automatically when its conditions are met.
A smart contract is a program with its own address and balance. It can hold funds, issue tokens and enforce rules without a company in the loop.
The contract does exactly what it says — including the mistakes. An audit is evidence someone read it; it is not a guarantee that it is safe.
Related terms
The chance that a contract's code or admin keys take your funds, regardless of price.
- Smart-contract auditSecurity
A paid review of contract code by a security firm; evidence of diligence, not a guarantee.
- Gas feeOn-chain
The fee paid to have a transaction included in a block; priced by network demand.