Smart Contract

A program stored on a blockchain that runs when predetermined conditions are met. Typically, smart contracts are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without an intermediary’s involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met.

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Interesting facts

  • Smart contracts were first proposed in 1994 by Nick Szabo, an American computer scientist who invented a virtual currency called "Bit Gold" in 1998, 10 years before the invention of Bitcoin.
  • The most used smart contract programming language is Solidity. 
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Development by Synergize.digital

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