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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. 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.
  4. Jan 9, 2023A smart contract is a self-executing computer programme that runs on a blockchain. When the rules of a smart contract are met for a transaction, the digital contract executes that transaction. Some potential advantages of smart contracts include automation, transparency, and security, amongst others.
  5. britannica.com

    How smart contracts work, step by step. A smart contract—like any contract—is an agreement between two parties. Smart contracts use code to leverage the benefits of blockchain technology, including efficiency, transparency, and security.The results can be innovative, but using smart contracts also carries risk.
  6. ledgerleopard.com

    Jan 23, 2024Smart contracts are digital protocols built on blockchain infrastructure that automatically execute, control, or document legally relevant events and actions according to the terms of a contract or an agreement. Essentially, they are self-executing contracts with the terms of the agreement directly written into code. They run on a decentralized ...
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