Smart contracts are self-executing programs that run on a blockchain network. They automatically enforce rules and regulations between parties without the need for intermediaries. Once deployed, the code is stored on the blockchain, making it immutable and transparent. When specific conditions are met, the contract triggers predefined actions, such as transferring tokens or recording data. Each transaction is verified by the network’s nodes, ensuring security and consensus. Smart contracts development reduces errors, fraud, and delays by automating processes. They are widely used in DeFi, NFTs, supply chain, and other blockchain applications. Essentially, they make agreements trustless, transparent, and reliable.