1. Smart Contract

Smart contracts are digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met.

2. DAPP

A decentralized app is an open-source software application that operates on a blockchain or P2P network of computers. Although dapps look and feel like regular applications, the way they work is entirely different as they are built on decentralized protocols without any need to involve Big Tech intermediaries. Without decentralized apps, it would be nearly impossible to bridge the giant gap between Web 2.0 and Web 3.0.