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  1. Smart contract

    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. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions. Smart contracts are commonly associated with cryptocurrencies, and the smart contracts introduced by Ethereum are generally considered a fundamental building block for decentralized finance and non-fungible token applications. The original Ethereum white paper by Vitalik Buterin in 2014 describes the Bitcoin protocol as a weak version of the smart contract concept as originally defined by Nick Szabo, and proposed a stronger version based on the Solidity language, which is Turing complete. Wikipedia

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  2. en.wikipedia.org

    A smart contract is a computer program or a transaction protocol that automatically executes or documents events and actions according to a contract or an agreement. Learn about the origins, legal status, and applications of smart contracts on various blockchain platforms, such as Ethereum, Bitcoin, and Cardano.
  3. ethereum.org

    Apr 22, 2024What is a smart contract? A "smart contract" is simply a program that runs on the Ethereum blockchain. It's a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain. Smart contracts are a type of Ethereum account. This means they have a balance and can be the target of transactions.
  4. Smart contracts are digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met. Smart contracts are typically used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss.
  5. ethereum.org

    Dec 18, 2024Introduction to smart contracts. Smart contracts are the fundamental building blocks of Ethereum's application layer. They are computer programs stored on the that follow "if this then that" logic, and are guaranteed to execute according to the rules defined by its code, which cannot be changed once created.. Nick Szabo coined the term "smart contract".
  6. cointelegraph.com

    Aug 21, 2024Smart contracts are the backbone of decentralized autonomous organizations (DAOs), which are organizations run entirely by code instead of people. Decisions are made based on pre-programmed rules ...
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