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What is Smart Contract?
Crypto Glossary Definition
A programmable way of executing logic on the blockchain. In addition to exchanging money, smart contracts allow arbitrary assets to be exchanged while avoiding a middleman.
Why Smart Contract Matters
Smart contracts are what let DeFi apps, NFT marketplaces, and DAOs run without a company operating them behind the scenes — the code itself enforces the rules. That also means a bug in the contract code can be permanent and costly, which is why audits and bug bounties matter so much in this space.
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