[{"data":1,"prerenderedAt":58},["ShallowReactive",2],{"term:smart-contract":3},{"term":4,"related":45},{"id":5,"title":6,"body":7,"category":27,"description":28,"extension":29,"faq":30,"meta":31,"navigation":32,"path":33,"related":34,"seo":38,"stem":39,"takeaways":40,"__hash__":44},"terms\u002Fterms\u002Fsmart-contract.md","Smart Contract",{"type":8,"value":9,"toc":22},"minimark",[10,15,19],[11,12,14],"h2",{"id":13},"understanding-smart-contract","Understanding Smart Contract",[16,17,18],"p",{},"Smart contracts execute agreements without an intermediary: for example, releasing payment once a condition is confirmed. Once deployed, they are typically hard or impossible to change.",[16,20,21],{},"Because code can contain bugs, flawed smart contracts have been exploited for large losses. Audits reduce, but do not remove, that risk.",{"title":23,"searchDepth":24,"depth":24,"links":25},"",2,[26],{"id":13,"depth":24,"text":14},"crypto","A program on a blockchain that runs automatically when set conditions are met.","md",[],{},true,"\u002Fterms\u002Fsmart-contract",[35,36,37],"ethereum","decentralized-finance","blockchain",{"title":6,"description":28},"terms\u002Fsmart-contract",[41,42,43],"Smart contracts are self-executing programs on a blockchain.","They power decentralized finance and many crypto apps.","Code bugs can lead to irreversible losses.","T_LR6QsPkl5E0i1XGOKq6DJsSCxaQQhi_xMVqlszLB8",[46,50,54],{"title":47,"description":48,"path":49},"Blockchain","A shared, append-only ledger that records transactions in linked blocks.","\u002Fterms\u002Fblockchain",{"title":51,"description":52,"path":53},"Decentralized Finance (DeFi)","Financial services such as lending and trading built on blockchains without traditional intermediaries.","\u002Fterms\u002Fdecentralized-finance",{"title":55,"description":56,"path":57},"Ethereum","A blockchain platform for smart contracts, with its own cryptocurrency, ether (ETH).","\u002Fterms\u002Fethereum",1793374005915]