<ul><li>Smart contracts are digital programs stored on blockchain networks that execute predefined rules when conditions are met.</li><li>Web3 applications leverage smart contracts to offer users control over data and assets, enhancing transparency and security.</li><li>Decentralized finance (DeFi) is a primary application of smart contracts in Web3, revolutionizing the financial sector.</li><li>Smart contracts have real-world applications in supply chain management and healthcare, enhancing efficiency and trust.</li></ul>

Beyond Cryptocurrency: Unlocking the Potential of Smart Contracts in Web3 Applications

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