A smart contract is a computer program that directly controls the transfer of digital currencies or assets between parties under certain conditions. Actions are triggered by an event, a message transmitted on the blockchain network, and results are guaranteed by the consensus of multiple nodes. Smart contracts can also be used to store information about an application, such as domain registration information or membership records.
Smart contracts are used to execute transactions in a decentralized manner. This means that the validation of a transaction does not depend on a single party, but rather everyone involved in the transaction will validate it. A smart contract can be written in Solidity or any other language that compiles to EVM (Ethereum Virtual Machine) bytecode. The following is a list of the most popular open-source Python Smart contract libraries: