How Does a Smart Contract Relate to a Decentralized Application (Dapp)?
A smart contract is the backend logic and core functionality of a dApp. The dApp is the complete application, including a user interface (frontend) that interacts with the smart contract (backend) on the blockchain.
Essentially, the smart contract defines the rules and state changes, while the dApp provides the means for users to interact with those rules.
Glossar
Decentralized Application
Architecture ⎊ Decentralized Application architecture, within cryptocurrency and financial derivatives, represents a paradigm shift from centralized intermediaries to peer-to-peer networks governed by consensus mechanisms.
Smart Contract
Code ⎊ The contract is fundamentally self-executing code deployed on a distributed ledger, embodying the terms of the agreement in an immutable format.
Dapp
Architecture ⎊ A decentralized application (Dapp) within cryptocurrency, options trading, and financial derivatives represents a software construct operating on a blockchain, fundamentally diverging from traditional client-server models.
Ethereum Virtual Machine
Computation ⎊ The Ethereum Virtual Machine (EVM) functions as a decentralized, Turing-complete computational engine, central to the execution of smart contracts on the Ethereum blockchain.