What is Smart Contract?

841 viewsblockchain
0

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.
Changed status to publish
Sorry, you do not have permission to read comments.