What is an ethereum contract

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Its primary function is to Proof of Stake PoS in the modern crypto ecosystem.

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What is Ethereum? - Blockchain
Smart contracts are programs that automatically execute transactions if certain conditions are met, without the need of an intermediary. Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution. Smart contracts, which are programs that run on a blockchain, have transformed blockchain from a data storage technology to an application.

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This is by design. Provides a Turing-incomplete script language that allows the creation of custom smart contracts on top of Bitcoin like multisignature accounts , payment channels, escrows, time locks, atomic cross-chain trading, oracles, or multi-party lottery with no operator. For instance, a smart contract can immediately release payment to a seller only after the buyer receives a product.

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