Smart Contract

      A “Smart Contract” is a piece of code that is built in a precise step-by-step, if-this-then-that, format that is supposed to be general and reusable. The semantics of its name come from two parts, the “smart” comes from the automatic & autonomous code that is running. storing and executing it in a blockchain somewhere, and the “contract” part comes from the definitive and binding nature of the code, once engaged it must be seen to the end.

      Related Terms:



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