From cryptocoven.mirror.xyz on smart contracts - "What is a smart contract? It’s a misnomer, really. A smart contract is a program that lives and stores its data on the blockchain, typically with APIs to interact with its contents. Poking around contracts on Etherscan makes that much clearer; you can see the entirety of the code for a verified contract, as well as call read and write functions on them."
------------ From gemini.com on digital assets - "The two most common blockchain-based digital assets are cryptocurrencies and tokens. The biggest differentiation between the two is that cryptocurrencies have their own blockchains, whereas crypto tokens are built on an existing blockchain."
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