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Wondering what are smart contracts and how they work They execute automatically, cannot be changed, and can protect your identity. Smart contracts are like regular contracts, but they rely on computer code and blockchain technology instead of lawyers and courts
These contracts automatically execute when predetermined conditions are met Smart contracts are digital agreements without a third party Think of it as a vending machine
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Smart contracts act as digital counterparts to traditional legal agreements, revolutionizing the landscape of transactions and agreements. Smart contracts have become a familiar word with the rise in popularity of cryptocurrencies and blockchain technology, but most people know little about what they are Smart contracts are a term coined by nick szabo, and he defined them as 'a set of promises. A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement
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