How Smart Contracts Work
Creation: A developer writes the code for the smart contract, defining the rules and conditions that will govern its execution.
Deployment: The smart contract is deployed to a blockchain network, such as Ethereum, Binance Smart Chain, or others.
Execution: When certain conditions are met, the smart contract automatically executes the predefined actions without the need for intermediaries like lawyers or banks.
Verification: Transactions involving smart contracts are verified by nodes on the blockchain network to ensure that all rules and conditions are met before execution.