Each contract has its own code and can be modified or deleted by the creator. Contracts can also be deployed on Ethereum’s test network, called Rinkeby, before being deployed on the main Ethereum network.
Once a contract is deployed, it is stored on the Ethereum blockchain and can be interacted with by anyone who has an Ethereum wallet. When a user interacts with a contract, they are actually sending a transaction to the contract address.
This transaction will trigger the contract code to run, and the results of the code will be stored on the blockchain.
Contracts can be used for a variety of purposes, such as creating a token, launching an ICO, or creating a decentralized application (DApp). The sky is the limit when it comes to what you can do with a contract!
If you’re interested in learning more about how to create your own contracts, check out our Solidity tutorial series. Now that you know how contracts work, you’re ready to start building on Ethereum!.