What is a smart contract and how does it work in Web3?
A smart contract is a self-executing contract with the terms of the agreement directly written into code. It runs on a blockchain and automatically executes actions based on predefined conditions and rules. Smart contracts are a foundational component of Web3, enabling trustless and decentralized interactions among participants.
In Web3, smart contracts are typically written in programming languages specifically designed for blockchain platforms, such as Solidity for Ethereum.
