Smart contract development involves creating self-executing contracts with the terms of the agreement directly written into lines of code. These contracts automatically execute, control, or document legally relevant events and actions, according to the contract’s stipulations, when predetermined conditions are met. In the context of blockchain technology, smart contracts are stored and run on decentralized platforms, offering enhanced security, transparency, and trust. By eliminating the need for intermediaries, these contracts streamline processes, reduce costs, and improve efficiency.