A Smart Contract is essentially a computer program or transaction protocol designed to autonomously execute, regulate, or record events and actions based on the stipulations of a contract or agreement. The primary aims of Smart Contracts include minimizing the reliance on trusted intermediaries, lowering arbitration expenses, reducing losses due to fraud, and mitigating both intentional and unintentional exceptions. While Smart Contracts are often linked to cryptocurrencies, the Smart Contracts introduced by FUN are regarded as a crucial foundational element for decentralized finance (DeFi) and applications involving non-fungible tokens (NFTs) within the Free Universal Network infrastructure. The following are the steps regarding a Smart Contract.
1) Agreement,
2) Protocol,
3) Decentralized,
4) Code,
5) Automation,
6) Blockchain,
7) Security
