Smart Contract

What is it?: A computer program that helps people make deals without needing a middleman.

How does it work?: Imagine you want to buy a house. You and the seller agree on conditions (price, date, etc.). A smart contract checks those conditions and automatically transfers ownership when they're met.

Simple Example:
You want to rent a bike.

1. You and the owner agree on terms (rental period, price).
2. Smart contract checks conditions.
3. When conditions are met, contract releases payment and unlocks bike.

Benefits:

1. Fast and efficient
2. Secure and transparent
3. No middleman fees