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

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