Smart Contracts

A smart contract is a protocol that digitally facilitate, verify, and enforce the negotiation or performance of a contract between two peers directly in a matter that is credible, without the need of third parties.

Smart contracts operate inside of a blockchain, a distributed ledger system, which means that no party or person has the authority to modify the contract or address, unless certain conditions are met, which then the smart contract will execute. This solves the problem of corruption or mistrust of handling of contracts.

The advancement of smart contracts will ultimately be decided by how well data can be fed into blockchains as well as how easy it will be for ordinary people to start creating their own smart contracts. Zap Token is the answer.

Zap Oracles

Zap is bridging the gap between real world data and diverse smart contract platforms through oracles. Oracles are data feeds capable of communicating real world data into smart contracts, a key feature needed for smart contracts to scale. For example, two people who want to bet on a sports game can then create a smart contract to enforce the negotiation and performance of the contract by using an oracle based on the sports game. When smart contracts could act on any arbitrary data, blockchain will truly encompass all global value. Zap goes a step further by allowing peers to exchange and monetize their data.

By the second quarter of 2018, Zap will be releasing their software development kit, allowing developers to interface with their platform and register data-providers. A tool necessary for non-technical users to start developing with oracles and smart contracts. Zap Oracles operate on the Ethereum blockchain.

Team

The Zap team is lead by Nick Spanos, featured on the Netflix documentary Banking on Bitcoin. Spanos has been a revolutionary figure in the cryptocurrency space, founding Bitcoin Center NYC and Blockchain Technologies Corporation. In early 2018, he has been seen talking to government leaders from around the world, including Saudi Arabia, and educating them on cryptocurrencies and blockchain technology. Saudi Arabia is now in line with adopting blockchain technology in their Vision 2030 for management and accounting. This has also created the EnergyLedger project, powered by Zap.

The Future of Smart Contracts

Contracts are used everyday in the real world, it is time that these contracts become modernized. The future of smart contracts is a bright one. Blockchain technology is here to stay and the potential for smart contracts is uncapped. Zap Oracles will be leading this revolution.

Connect

Check out Zap : https://www.zap.org/index.html
Follow Zap on Twitter : https://twitter.com/ZapOracles
Join Zap Telegram : https://t.me/ZapOracles
Check Zap Token Price : https://coinmarketcap.com/currencies/zap/
Get Zap Tokens on Cryptopia : https://www.cryptopia.co.nz

About the Author

Dustin Wei, 16 year old cryptocurrency enthusiast. Follow me on Twitter at @WeiDustin