Smart contract is automated transactional service running on any of the blockchains.
A smart contract contains the terms of the agreement between parties, and automatically executes the terms when certain predetermined conditions are met. Smart contracts are tamper-proof, transparent, and autonomous, and they eliminate the need for intermediaries such as lawyers, brokers, or banks. This makes them a secure and efficient way to automate financial transactions, manage digital assets, or automate other types of agreements
An automated transactional service running on any of the blockchains supporting smart contracts. Typically
runs on Ethereum-based blockchain and is written in the Solidity programming language.
See also
On-chain
Non-custodial
Wallet