What is a smart contract quiz

Question 1

What is a smart contract?

Accepted Answer

A program stored on a blockchain that runs automatically when triggered

Question 2

Why does every node run a smart contract when it is called?

Accepted Answer

So that all nodes agree on the same result through consensus

Question 3

How does a smart contract learn about real world data such as prices?

Accepted Answer

Through oracles that feed external data onto the chain

Question 4

What is the main danger of a bug in a deployed smart contract?

Accepted Answer

An attacker can exploit it and the stolen funds are usually unrecoverable

Question 5

What does it mean if a contract is upgradeable?

Accepted Answer

Someone holding an admin key or governance power can change its code, which reintroduces trust

What is a smart contract: the quiz