Glossary / Smart contract

Smart contract

A smart contract is a program on a blockchain that runs exactly as written when its conditions are met.

Why it matters

Bugs in a contract can be exploited, which is why audits and security scans matter.

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Related terms

DeFi (decentralized finance)DeFi is financial services such as trading, lending and saving run by smart contracts inst…Honeypot tokenA honeypot is a token whose contract lets you buy but blocks or heavily taxes selling.…Smart contract auditAn audit is a security review of a smart contract's code by specialists looking for bugs a…

Written by the VaultX AI team. Educational only, not investment advice.

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