What are the key features of a smart contract, and how do they contribute to its effectiveness in web applications?

Smart contracts are computer programs that automatically execute the terms of a contract once certain conditions are met. They are designed to operate on a blockchain network, which provides a tamper-proof and transparent record of all transactions. Here are some of the key features of smart contracts and how they contribute to their effectiveness in web applications: 1. Self-executing: Smart contracts are self-executing, meaning that they automatically execute the terms of the contract when certain conditions are met. This eliminates the need for intermediaries, such as lawyers or brokers, to oversee the execution of the contract. This can lead to faster transaction processing times and reduced costs. 2. Decentralized: Smart contracts operate on a decentralized blockchain netwo....