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A blockchain is a shared ledger whose data is distributed via peer-to-peer technology. The data is presented in "blocks" and secured with cryptography. For a new block to be attached, there must be consensus between all parties involved.
Smart contracts are contracts whose terms are encoded in computer language instead of legal language. Smart contracts can be executed by a computing network such as RSK, so that the terms of the contracts are automatically enforced by a protocol that all nodes in the network follow.