A program stored on a blockchain that automatically executes an agreement when specific conditions are met, without needing a middleman.
Think of it like a vending machine — you put in your money, select your item, and the machine handles the transaction automatically with no cashier needed.
Smart contracts power almost everything in DeFi, NFTs, and DAOs. Understanding them helps you know what you're actually agreeing to when you use crypto apps.
Watch out for approving smart contracts you haven't researched — a malicious contract can drain your wallet. Only interact with contracts from trusted, audited projects.
Decentralized Finance — financial services like lending, borrowing, and earning interest, built on blockchain and available to anyone without needing a bank.
A shared digital ledger that records every transaction across a network of computers, where entries can't be secretly changed or deleted.
A Decentralized Autonomous Organization — a group run by its members through voting, with rules enforced automatically by code instead of a CEO or board.
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