information About Smart Contracts - Overview
  Smart Contracts

What are Smart Contracts?

A Smart Contract is a computer code running on top of a blockchain.

It contains a set of binding rules, under which the parties to that smart contract agree to interact with each other.

If and when the pre-defined rules are met, the agreement is automatically enforced, requiring no human third parties, such as lawyers etc.

Although they can be incorporated on to most Blockchains, Smart Contracts are often written on the Ethereum blockchain, as this gives almost unlimited processing capability.

Smart Contracts are an every increasing form of contractual agreement and many creative applications for them are constantly being created.

Further reading: Digital Marketing Meets Blockchain Technology


( << Back to the Quick Fact List )


๐Ÿ‘‰๐Ÿผ About

I am a long standing ONPASSIVE O-Founder and a Brand Ambassador.

I have created this independent website, to provide supporting Technology Information, Articles and other Marketing resources for the ONPASSIVE Platform, its Products, Tools, Applications & Services.

Check out our Tech FAQ's to get in the know about all kinds of Disruptive Technology.

You can also visit the Official ONPASSIVE website >>> and get the very latest up to date corporate information.