Runtime refers to the period during which a program or a smart contract is executed. In the context of blockchain, it’s the phase when the code, deployed on the network, is actively processed by nodes.Smart contracts are self-executing contracts with terms written into code. Once deployed, they run based on specific triggers or conditions. During runtime, the blockchain network evaluates the code, processes transactions, and interacts with data. The efficiency and functionality of a blockchain can be impacted by the runtime environment. Factors like transaction speed, gas fees, and network capacity play key roles. If the runtime is optimized, it can lead to faster transaction times and reduced costs. Understanding runtime helps developers create more efficient applications and contributes to the overall performance and scalability of blockchain platforms.