Question

What is a smart contract in the context of blockchain technology?

A A legally binding contract between blockchain participants Correct Answer Incorrect Answer
B An automated program that enforces contract terms on a blockchain Correct Answer Incorrect Answer
C A mechanism for resolving disputes in blockchain transactions Correct Answer Incorrect Answer
D A protocol for establishing secure connections between blockchains Correct Answer Incorrect Answer
E All of these Correct Answer Incorrect Answer

Solution

A smart contract is a self-executing program with code that automatically executes and enforces the terms of a contract on a blockchain when specific conditions are met, eliminating the need for intermediaries.

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