May
21
What is a smart contract?
Posted in: Uncategorized
A smart contract is just like an old-fashioned verbal or paper contract except that its conditions can be met digitally. Smart contracts are not new, but they are newly relevant (and a bit overhyped) because they are an awesome, non-cryptocurrency use of blockchain technology.
You’ve likely heard of blockchain. It’s the underlying technology that powers bitcoin and other cryptocurrencies. Everyone is talking about blockchain because distributed ledgers (the term of art for blockchain’s tech) offer an exciting new way to transact business without a central authority.
Blockchain is information written in stone
Post a Comment