What is a smart contract ?
Smart contract are computer systems that manage assets such as automatic teller machines and the Bitcoin system. Ethereum Classic is able to run many types of smart contracts. If Ethereum Classic smart contracts are not mainly financial, it makes more sense to emphasize their autonomy by referring to them as agents.
The objectives of smart contracts are the reduction of need in trusted intermediators, arbitrations and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.