This article discusses smart contracts, which are digital agreements that run on blockchain networks. Smart contracts automatically enforce themselves once predefined conditions are met, eliminating the need for intermediaries like lawyers or banks. They streamline transactions, making them faster, more efficient, and more secure. Smart contracts date back to the mid-1990s, but it wasn't until the launch of Ethereum in 2015 that they gained traction. Smart contracts fall into three types: smart legal contracts, DAO contracts, and ALC contracts. They offer advantages such as transparency, cost efficiency, trust-building, secure storage and backup, and security. Token smart contracts are used to create and manage digital tokens with various functionalities. Examples of smart contract platforms include Ethereum, Binance Smart Chain, Polkadot, and Chainlink. The future of smart contracts looks promising, with potential for revolutionizing industries beyond finance and law.



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