A Complete Guide to Understand Smart Contracts
Smart contracts can be considered prominent in blockchain technology . In the 1990s the smart contract was presented as a digital trade agreement that runs the legitimate terms of an agreement. These agreements will run automatically when certain conditions are met. In another word, we can say that smart contracts run the agreement execution without any enrolment of 3rd party, and by saving time so that all participants that are enrolled in the smart contract will take the result as soon as possible Smart contracts are self-evident programs in which the transaction data is written directly into lines of code. According to the American computer scientist "Nick Szabo", who invented a digital currency called "Bit Gold" in 1998, Smart contracts are automated trade protocols that perform the execution of the program with the help of these transactions, which are transparent and irreversible. Smart contracts permit the creators to make comprehensive decentralized a...