A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code.
- Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
- Nick Szabo, an American computer scientist who invented a virtual currency called “Bit Gold” in 1998, defined smart contracts as computerized transaction protocols that execute terms of a contract.
- Smart contracts render transactions traceable, transparent, and irreversible.
sfadmin Changed status to publish April 20, 2021
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