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Update index.md
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talkol authored May 18, 2023
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A smart contract is simply a computer program running on TON Blockchain - or more exactly its [TVM](https://ton-blockchain.github.io/docs/tvm.pdf) (TON Virtual Machine). The contract is made of code (compiled TVM instructions) and data (persistent state) that are stored in some address on TON Blockchain.

In the world of blockchain, *code is law*, meaning that instead of lawyers and papers, computer instructions define in absolute terms the rules of interaction between the different users of the contract. Before enagaging with any smart contract as a user, you're expected to review its code and thus understand its terms of agreement. Accordingly, we'll make an effort to make our contract as easy to read as possible, so its users could understand what they're getting into.
In the world of blockchain, *code is law*, meaning that instead of lawyers and papers, computer instructions define in absolute terms the rules of interaction between the different users of the contract. Before engaging with any smart contract as a user, you're expected to review its code and thus understand its terms of agreement. Accordingly, we'll make an effort to make our contract as easy to read as possible, so its users could understand what they're getting into.

## Dapps - decentralized applications

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