What are smart contracts?

In the context of blockchains a smart contact is a collection of libraries which are executed by a decentralized app - Dapp, and run on every node of the blockchain.

Most of the ‘smart-contracts’ in existence do very little more than minting tokens, and accounting of the asset.

Currently only programmers familiar with the specific language used can create smart contracts but as the amount of code is little and a lot can be copied/pasted, programmers with average skills can create smart contracts and mint new tokens every day, if they wish…

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