Glossary - ChicksX

Smart Contract Wallet is a programmable wallet on blockchain. It automates transactions with user-defined rules for enhanced security and flexibility.

Smart Contract Wallet is a digital wallet built on blockchain technology that uses smart contracts. These are self-executing contracts with terms directly written into code. This wallet type allows for automated, programmable transactions based on user-defined rules. Unlike traditional wallets, smart contract wallets can enforce complex operations, like multi-signature approvals or time-locked transactions, increasing security and flexibility. They can interact with decentralized applications and provide features like automatic bill payments or fund recovery options. Smart contract wallets offer an innovative way to manage digital assets, making them a popular choice in the crypto space.