Contract account
An Ethereum account associated with deployed code that runs when it is called.
In more detail
A contract account can hold ETH, keep data and follow programmed rules when a transaction or another contract calls it. It doesn't simply wake up on its own because a deadline passed. What happens to its assets depends on its code and any permissions that code gives administrators or other participants.
How you might use it
A lending contract updates your debt when you interact with it, using its code and stored data to decide the result.
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