Blockchain General

Smart Contract

Self-executing code deployed on a blockchain that automatically enforces the terms of an agreement when conditions are met. Smart contracts are immutable once deployed (unless upgradeable), transparent, and trustless. On Solana they're called 'programs'; on Ethereum they're written in Solidity and run on the EVM. They enable DeFi, NFTs, DAOs, and other decentralized applications.

IDsmart-contract-generalAliasContract

Plain meaning

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Self-executing code deployed on a blockchain that automatically enforces the terms of an agreement when conditions are met. Smart contracts are immutable once deployed (unless upgradeable), transparent, and trustless. On Solana they're called 'programs'; on Ethereum they're written in Solidity and run on the EVM. They enable DeFi, NFTs, DAOs, and other decentralized applications.

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Smart Contract (smart-contract-general)
Category: Blockchain General
Definition: Self-executing code deployed on a blockchain that automatically enforces the terms of an agreement when conditions are met. Smart contracts are immutable once deployed (unless upgradeable), transparent, and trustless. On Solana they're called 'programs'; on Ethereum they're written in Solidity and run on the EVM. They enable DeFi, NFTs, DAOs, and other decentralized applications.
Aliases: Contract
Related: Program, EVM (Ethereum Virtual Machine), Solidity
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Concept graph

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Branch

Program

Executable code deployed on-chain, equivalent to a smart contract on other blockchains. Programs are stateless—they store no data themselves but read/write data in separate accounts they own. Programs are compiled to SBF bytecode and loaded via the BPF Loader. Every program has a unique Program ID (its account's public key).

Branch

EVM (Ethereum Virtual Machine)

The stack-based virtual machine that executes smart contracts on Ethereum and EVM-compatible chains (Polygon, Avalanche, BSC, Arbitrum). Programs are compiled to EVM bytecode from Solidity or Vyper. The EVM is single-threaded—all transactions execute sequentially. In contrast, Solana's SVM supports parallel execution and uses a register-based design.

Branch

Solidity

The primary programming language for Ethereum smart contracts. Solidity is statically typed, supports inheritance, and compiles to EVM bytecode. Unlike Solana's Rust-based development, Solidity uses a contract-oriented paradigm where code and state are co-located. Neon EVM enables running Solidity contracts on Solana by emulating the EVM.

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Programming Model

Program

Executable code deployed on-chain, equivalent to a smart contract on other blockchains. Programs are stateless—they store no data themselves but read/write data in separate accounts they own. Programs are compiled to SBF bytecode and loaded via the BPF Loader. Every program has a unique Program ID (its account's public key).

Blockchain General

EVM (Ethereum Virtual Machine)

The stack-based virtual machine that executes smart contracts on Ethereum and EVM-compatible chains (Polygon, Avalanche, BSC, Arbitrum). Programs are compiled to EVM bytecode from Solidity or Vyper. The EVM is single-threaded—all transactions execute sequentially. In contrast, Solana's SVM supports parallel execution and uses a register-based design.

Blockchain General

Solidity

The primary programming language for Ethereum smart contracts. Solidity is statically typed, supports inheritance, and compiles to EVM bytecode. Unlike Solana's Rust-based development, Solidity uses a contract-oriented paradigm where code and state are co-located. Neon EVM enables running Solidity contracts on Solana by emulating the EVM.

Blockchain General

Slashing

A penalty mechanism in Proof of Stake systems where validators lose a portion of their staked tokens for provable misbehavior (double-signing, extended downtime, invalid attestations). Slashing provides economic disincentive against attacks. Ethereum slashes a minimum of 1/32 of stake; Solana's slashing is planned but not yet enforced on mainnet as of 2025.

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Blockchain Generalstate-channel

State Channel

Layer-2 scaling technique where participants open a channel, conduct many off-chain transactions between themselves, then settle the final state on-chain. Reduces fees and latency for repeated interactions between the same parties. Lightning Network (Bitcoin) is the most prominent example. Less common on Solana due to its already-low fees.

Related terms

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Programming Modelprogram

Program

Executable code deployed on-chain, equivalent to a smart contract on other blockchains. Programs are stateless—they store no data themselves but read/write data in separate accounts they own. Programs are compiled to SBF bytecode and loaded via the BPF Loader. Every program has a unique Program ID (its account's public key).

Blockchain Generalevm

EVM (Ethereum Virtual Machine)

The stack-based virtual machine that executes smart contracts on Ethereum and EVM-compatible chains (Polygon, Avalanche, BSC, Arbitrum). Programs are compiled to EVM bytecode from Solidity or Vyper. The EVM is single-threaded—all transactions execute sequentially. In contrast, Solana's SVM supports parallel execution and uses a register-based design.

Blockchain Generalsolidity

Solidity

The primary programming language for Ethereum smart contracts. Solidity is statically typed, supports inheritance, and compiles to EVM bytecode. Unlike Solana's Rust-based development, Solidity uses a contract-oriented paradigm where code and state are co-located. Neon EVM enables running Solidity contracts on Solana by emulating the EVM.

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Blockchain General

Blockchain

A distributed, append-only ledger that records transactions in cryptographically linked blocks. Each block contains a hash of the previous block, forming an immutable chain. Nodes in the network maintain copies of the ledger and reach agreement through consensus mechanisms. Blockchains enable trustless, decentralized record-keeping without a central authority.

Blockchain General

Consensus Mechanism

The protocol by which nodes in a distributed network agree on the current state of the ledger. Common mechanisms include Proof of Work (Bitcoin), Proof of Stake (Ethereum, Solana), and BFT variants. Consensus ensures all honest nodes converge on the same transaction history despite potential network delays or malicious actors.

Blockchain General

Proof of Stake (PoS)

A consensus mechanism where validators are selected to produce blocks based on the amount of cryptocurrency they have staked (locked) as collateral. PoS is energy-efficient compared to Proof of Work. Misbehaving validators risk losing their stake (slashing). Solana, Ethereum (post-Merge), Cosmos, and Cardano use PoS variants.

Blockchain General

Proof of Work (PoW)

A consensus mechanism where miners compete to solve computationally expensive puzzles to produce blocks and earn rewards. PoW provides strong security (51% attack resistance) but is energy-intensive. Bitcoin and pre-Merge Ethereum use PoW. The difficulty adjusts to maintain target block times regardless of total network hash power.