A regular contract is a legally binding agreement between two or more parties that involves a set of terms and conditions. It is written in plain language and is enforceable by law.
A smart contract is a digital contract that is written in computer code and is stored on a distributed ledger. It is self-executing, meaning that it automatically executes when certain conditions are met, without the need for a third party. For example, a smart contract might be used to transfer money from one person to another when a certain event occurs, such as the delivery of a product. The contract would contain the details of the transaction, and when the event occurs, the funds would automatically be transferred.