What is Smart Contract?
A smart contract is a type of contract that works by writing the contract between the buyer and seller directly in the lines of code. The code and contracts here are distributed; It is located on a decentralized blockchain network. The code controls execution; Transactions are traceable and irreversible.
Smart contracts, without the need for a central authority, legal system or external enforcement mechanism; It allows for reliable transactions and agreements between separate, anonymous parties.
Although blockchain technology is primarily thought of as the foundation of Bitcoin, it has gone far beyond supporting virtual currency.