What is a smart contract?

Created by Karel Striegel, Modified on Sun, 11 Sep 2022 at 09:46 AM by Karel Striegel

NFTs are minted through smart contracts that assign ownership and reassign it when transferred or resold. At a basic level, smart contracts act as a tool to implement a sale agreement.

Like a vending machine, they can verify that you have insured enough money to get your Twix out without the need of an intermediary or central authority. They also ensure that NFTs cannot be divided and ensure that the digital assets are one of a kind and non-replicable.

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