Glossary Crypto & Web3
Smart contract
Code deployed to a blockchain that executes automatically when its conditions are met. It removes the need for a middleman to enforce an agreement, but a bug in the code is just as automatic as the rest of it.
More from the glossary
Ceasefire
An agreement to stop fighting, which may be temporary, local or conditional. It is a pause…
Coalition government
A government formed by two or more parties because no single party holds a majority. Policy…
Altcoin
Any cryptocurrency other than Bitcoin. The label spans serious infrastructure projects and outright jokes, so it…
Central bank
The institution that sets a currency's interest rates and oversees the banking system, such as the…

