Smart Contract Defined
Smart Contract works as an agreement between two or more parties. These parties are virtually independent and sit separately over blockchains, like Ethereum and Tron. Smart Contracts are coded programs that run over blockchain technology when the pre-determined conditions are met. It’s a collection of codes and data that sits over defined addresses on the Ethereum blockchain. These codes are required in order to automate the execution of an agreement because of which participants can be clear of the outcome, without bearing any time loss and involvement of an intermediary.
Smart Contracts Development Solutions are a type of Blockchain Account that holds a certain amount of balance to execute transactions over the network. They are not controlled by any user, instead, they are deployed to the network and operate as an automatic program. It cannot be altered by any individual unless the whole network approves of the change.