What are Smart Contracts?

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A. A digital agreement stored on a blockchain that automatically executes predefined actions when conditions are met.

B. A physical contract that requires human intervention to execute.

C. A legal document that is signed by both parties.

A. They require manual approval to execute each step of the contract.

B. They execute actions automatically when predefined conditions are met.

C. They are executed by a central authority.

A. A contract where payment is made based on a user's credit score.

B. A contract that releases payment when goods are delivered on time.

C. A contract where a third party verifies the delivery status.