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describe a smart contract.
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a smart contract is a self-executing contract that facilitates, verifies, and enforces the terms of an agreement, without the need for a third-party intermediary. unlike traditional contracts, smart contracts are stored and executed on distributed ledger technology such as blockchain and are typically programmed in a high-level language like solidity. smart contracts can be used for a variety of applications, such as automating payments, exchanging assets, building trust and reputation systems, executing legal processes, and more.
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