Smart Contracts & dApps
Smart Contracts & dApps
Smart contracts and decentralized applications (dApps) are two pillars of blockchain’s revolutionary potential. They enable blockchain technology to go beyond digital currency and support full-scale digital ecosystems.
What Are Smart Contracts?
Smart contracts are self-executing pieces of code stored on a blockchain. Once specific conditions are met, the contract automatically performs actions — no third party or intermediary needed.
Example: A smart contract might release payment once a product is delivered and verified, without needing a bank or legal authority to intervene.
Why Are They Important?
Smart contracts provide trustless automation. They reduce costs, increase efficiency, and eliminate disputes by ensuring that transactions occur exactly as coded. Common use cases include escrow systems, crowdfunding, insurance, and royalties.
What Are dApps?
dApps (Decentralized Applications) are apps that run on blockchain networks rather than centralized servers. Examples include:
- Wallets like MetaMask
- Decentralized exchanges like Uniswap
- Games like Axie Infinity
- Social platforms like Lens Protocol
Platforms That Support Smart Contracts
Some blockchains are purpose-built for smart contracts and dApps:
- Ethereum — the most widely used platform
- Solana — high-speed, low-fee alternative
- BNB Smart Chain — optimized for fast dApp deployment
- Cardano — focuses on research-backed development
Smart contracts and dApps represent the future of decentralized computing. With no central point of failure, they empower users to interact with digital services in a secure, open, and user-owned way.