---
title: "What is a smart contract on a blockchain?"
url: "https://worldwiki.io/q/what-is-a-smart-contract-on-a-blockchain"
type: "question"
language: "en"
intent: "informational"
entity: "Blockchain"
topic: "Blockchain"
published: "2026-09-18 07:10:23"
updated: "2026-09-18 16:10:23"
---

# What is a smart contract on a blockchain?

## Short answer

A smart contract is a program stored on a blockchain. NIST defines it as a collection of code and data, deployed with cryptographically signed transactions, that the network's nodes run. Every node must get the same result, and the result is recorded on the chain. Smart contracts can automate things like token issuance or escrow. The OECD notes that making sure the code is correct and resolving disputes remain open challenges.

## Answer

Definition from the NIST glossary [4]. Policy context from the OECD .

## Verified providers

- [TwoLegend](https://worldwiki.io/entity/twolegend) — TwoLegend is a South Korean software development company specializing in blockchain mainnet, AI and enterprise software development.

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## Sources

1. [IR 8202, Blockchain Technology Overview](https://csrc.nist.gov/pubs/ir/8202/final) — National Institute of Standards and Technology (NIST) · evidence page: https://worldwiki.io/source/153
2. [Glossary: permissioned](https://csrc.nist.gov/glossary/term/permissioned) — NIST Computer Security Resource Center · evidence page: https://worldwiki.io/source/154
3. [Glossary: permissionless](https://csrc.nist.gov/glossary/term/permissionless) — NIST Computer Security Resource Center · evidence page: https://worldwiki.io/source/155
4. [Glossary: smart contract](https://csrc.nist.gov/glossary/term/smart_contract) — NIST Computer Security Resource Center · evidence page: https://worldwiki.io/source/156
5. [Block Chain — Bitcoin Developer Guide](https://developer.bitcoin.org/devguide/block_chain.html) — Bitcoin Project (developer.bitcoin.org) · evidence page: https://worldwiki.io/source/157
6. [The story of Satoshi Nakamoto and the 1 million bitcoins](https://ec.europa.eu/newsroom/cef/items/663083/de-) — European Commission, CEF Newsroom · evidence page: https://worldwiki.io/source/158
7. [Stuart Haber](https://en.wikipedia.org/wiki/Stuart_Haber) — Wikipedia · evidence page: https://worldwiki.io/source/159
8. [The Merge](https://ethereum.org/roadmap/merge/) — ethereum.org · evidence page: https://worldwiki.io/source/160
9. [Proof-of-stake (PoS)](https://ethereum.org/developers/docs/consensus-mechanisms/pos/) — ethereum.org · evidence page: https://worldwiki.io/source/161
10. [Blocks](https://ethereum.org/developers/docs/blocks/) — ethereum.org · evidence page: https://worldwiki.io/source/162
11. [Introduction — What is Hyperledger Fabric?](https://hyperledger-fabric.readthedocs.io/en/latest/whatis.html) — Hyperledger Foundation (Linux Foundation) · evidence page: https://worldwiki.io/source/163
12. [Bitcoin electricity consumption: an improved assessment](https://www.jbs.cam.ac.uk/2023/bitcoin-electricity-consumption/) — Cambridge Judge Business School, University of Cambridge · evidence page: https://worldwiki.io/source/164