human
When a Smart Contract is executed, is it executed on the blockchain?
assistant
No. Smart Contracts are stored on the blockchain, but they are not executed on the blockchain. A Smart Contract is an agreement between two parties, where one party, the “sender”, sends money to the other party, the “recipient”. When the Smart Contract is executed, the recipient gets the money sent to them. Smart Contracts are often used to send payments or tokens to people, so that they can use those tokens or money.