What are smart contracts and their types? Smart contracts are self-executing contracts written as code and stored on a blockchain. They have the ability to automatically enforce the terms of an agreement, eliminating the need for intermediaries, such as lawyers, banks, or other third-party service providers. There are three main types of smart contracts: 1 Smart Legal Contracts 2 Decentralized Autonomous Organizations (DAO) 3 Application Logic Contracts (ALC) These types of smart contracts can be used in combination to create complex decentralized applications (dApps) that run autonomously, securely, and transparently on a blockchain network. LBM Solutions is a dynamic Smart Contract Development Company that provides new services to assist organizations in managing their business processes. Website: https://lbmsolutions.in/smart-contract-development-company/?utm_source=backlink&utm_medium=traffic&utm_campaign=Abhi