What Are Smart Contracts?
A smart contract is a self-executing program stored on a blockchain that automatically enforces rules and actions when predefined conditions are met. Instead of relying on intermediaries, smart contracts use code to carry out agreements transparently and consistently across a decentralized network.
Once deployed, a smart contract operates exactly as written and cannot be changed easily. It can handle tasks such as transferring funds, issuing tokens, or managing access to services without manual intervention. Transactions and outcomes triggered by smart contracts are recorded on the blockchain, making them verifiable and resistant to tampering.
Smart contracts are widely used in decentralized finance (DeFi), digital assets, and decentralized applications (dApps). While they increase efficiency and reduce reliance on third parties, they also require careful design, as errors in code can lead to unintended outcomes.
KAST relies on blockchain networks that utilize smart contracts to support stablecoin transfers, ensuring transactions are automated, transparent, and securely executed on-chain.
