Programs deployed to the Ethereum blockchain that execute deterministically on the Ethereum Virtual Machine and maintain state enforced by network consensus, enabling trustless automation of agreements and protocols through immutable on-chain code.
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- Ethereum smart contracts are account-bound programs whose code and storage live on-chain. They run on the Ethereum Virtual Machine, with each operation metered in gas paid by the transaction sender.
- Contracts are commonly written in Solidity and compiled to bytecode for execution. Their deterministic execution and shared state allow standards such as ERC-20 to define interoperable tokens and applications.