What is a smart contract platform?

A smart contract platform is a decentralized, blockchain-based computing infrastructure that enables the creation, execution, and enforcement of smart contracts. Smart contracts are self-executing agreements with the terms of the contract directly written into code. They automatically execute when predefined conditions are met, eliminating the need for intermediaries and reducing the risk of fraud, censorship, or third-party interference.

The most well-known smart contract platform is Ethereum, but there are several other platforms, such as:

1. Binance Smart Chain (BSC)
2. Cardano
3. Solana
4. Polkadot
5. Avalanche
6. Cosmos
7. Tezos
8. Algorand

These platforms provide a decentralized virtual machine (often referred to as the Ethereum Virtual Machine or EVM on Ethereum) where developers can write, deploy, and execute smart contracts using a specific programming language, such as Solidity on Ethereum.

Smart contract platforms enable various decentralized applications (dApps) to be built on top of them, ranging from decentralized finance (DeFi) platforms, non-fungible token (NFT) marketplaces, and decentralized exchanges (DEXs) to supply chain management systems, digital identity platforms, and more.

By offering a decentralized and trustless environment for executing smart contracts, these platforms promote transparency, security, and efficiency in various industries, including finance, supply chain, real estate, gaming, and entertainment.