Smart Contracts and Their Types: A Complete Guide

Smart Legal Contracts Legal contracts with smart features that automatically execute terms when conditions are met, reducing delays & errors

Decentralized Autonomous Organizations (DAO) Leaderless, blockchain-based organizations run by computer programs, offering transparent & fair decision-making without central authority.

Application Logic Contracts (ALC) Smart contracts that govern the logic of dApps, enabling complex app development on blockchains.

Token Contracts Contracts that manage the creation, transfer, & destruction of digital tokens like cryptocurrencies or NFTs in a secure, regulated manner.

Marketplace Contracts Used in decentralized markets to automate transactions, manage reputations & provide escrow services for buying & selling.