Smart contract
MarketsDefinition
Self-executing code on a blockchain that automatically enforces agreements without intermediaries. Once deployed, runs deterministically based on its rules — no one can stop it without disabling the underlying blockchain.
Ethereum is the dominant smart contract platform; Solana, Avalanche, others compete. Powers DeFi (Aave, Uniswap), NFTs, DAOs, on-chain games. Risks: code bugs (DAO hack 2016, Ronin 2022 — billions lost), oracle manipulation, governance attacks.
Ethereum is the dominant smart contract platform; Solana, Avalanche, others compete. Powers DeFi (Aave, Uniswap), NFTs, DAOs, on-chain games. Risks: code bugs (DAO hack 2016, Ronin 2022 — billions lost), oracle manipulation, governance attacks.