Smart contracts are computer protocols meant to digitally facilitate, verify, or enforce the execution of contracts. (bitcoinist.com)
Only rules that is coded by humans, and executed by computer protocols. (coinscage.com)
Based on different computer languages (Solidity, Serpent, LLL, and Mutan), smart contracts are all - encompassing computer protocols, not only defining the parameters and penalties governing transactions, but automatically enforcing them as well, ultimately, eliminating «downtime, censorship, fraud or third - party interference.» (coolwallet.io)