How do Sia smart contracts work?
Using the Sia blockchain, renters form file contracts with hosts. These contracts set pricing, uptime commitments, and other aspects of the relationship between the renters and the hosts.
File contracts are a type of smart contract. They allow Sia users to create cryptographic service level agreements (SLAs) that are stored on the Sia blockchain.
Since file contracts are automatically enforced by the network, Sia has no need for intermediaries or trusted third parties.