Ed smart contracts at length in the preceding hapter 9, Smart Contracts.
It is sufficient to say here that Ethereum supports the development of smart contracts that run on the EVM.
Self-Executing Code That’s Transforming Business (Part 2)
These contracts, known as precompiled contracts or native contracts are described in the following subsections.
These are not strictly smart contracts in the sense of user programmed solidity smart contracts, but in fact are functions that are available natively on the blockchain to support various computationally intensive tasks.
They run on the local node and are coded within the Ethereum client, for example, parity or geth.
Why This Matters for Blockchain Technology
Understanding Smart contracts is not just an academic exercise — it has real-world implications for how blockchain systems are designed, deployed, and secured. Whether you are a developer building decentralized applications, a business leader evaluating blockchain adoption, or a curious learner exploring the technology, this knowledge provides a critical foundation.
Key Points to Remember
- Smart contracts ed smart contracts at length in the preceding hapter 9, Smart Contracts.
- It is sufficient to say here that Ethereum supports the development of smart contracts that run on the EVM.
- These contracts, known as precompiled contracts or native contracts are described in the following subsections.
- These are not strictly smart contracts in the sense of user programmed solidity smart contracts, but in fact are functions that are available natively on the blockchain to support various computationally intensive tasks.
Conclusion
Smart contracts represents one of the many innovative layers that make blockchain technology so powerful and transformative. As distributed systems continue to evolve, a solid understanding of these core concepts becomes increasingly valuable — not just for developers, but for anyone building, investing in, or working alongside blockchain-powered systems.
Whether you are just starting your blockchain journey or deepening existing expertise, mastering these fundamentals gives you the tools to think clearly about decentralized systems and make smarter decisions in this rapidly evolving space.