Smart contracts are business automated applications or lines of code which are self-executing and function on a decentralized network like blockchain. This code manages the executions of transactions that are irreversible and trackable
Smart contracts are considered one of the most essential tools in blockchain as they enable the transfer of everything right from bitcoin to goods transported across the globe. Smart contracts essentially remove intermediaries from a business contract, thereby streamlining the contractual process.
https://blog.eccouncil.org/what-is-a-smart-contract-in-blockchain/
