What Is a Smart Contract?
What Is a Smart Contract?
It is an electronic algorithm for signing self-executing contracts on a blockchain. A smart contract describes an agreement in a mathematical language, which allows for eliminating differences in the interpretation of its terms and third-party interference into the process of its execution. In other words, a smart contract enables parties to exchange assets with no need for an intermediary.
The idea of a smart contract was originally introduced by Nick Szabo in 1996. In practice, it was first technically implemented by Vitalik Buterin in his project Ethereum that was launched in 2013.
Added to my follow list. Keep up the good work and what do you think of the current market?