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Smart Contract Meaning

A smart contract is a self-executing program stored on a blockchain that automatically triggers a specific action (such as the transfer of funds) when predefined conditions are met. Often described as "Programmable Money," they allow for complex agreements to be executed without a "Trusted Third Party" like a lawyer or a bank.

Once deployed, the code is Immutable and "Censorship-resistant."Technically, a smart contract is a collection of "Code" (the logic) and "Data" (the state) that resides at a specific address on the blockchain. On Ethereum, these are usually written in Solidity and compiled into "Bytecode" that is executed by the Ethereum Virtual Machine (EVM).

Every "Step" of the code's execution is verified by every node on the network, ensuring that the outcome is "Deterministic"-everyone agrees on the result.Smart contracts are the "Building Blocks" of the decentralized world. They power everything from "Stablecoins" (which use code to maintain a peg) to "DAOs" (which use code for governance) and "NFTs" (which use code to prove ownership).

While they offer immense efficiency, they also introduce "Systemic Risk"; if there is a "Bug" in the code, it can be exploited to drain all the funds held by the contract. This has led to the rise of the "Smart Contract Audit" industry, which seeks to verify the security of the code before it is entrusted with millions of dollars.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

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