What is blockchain smart contracts? - Letsdiskuss
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Posted 25 Mar, 2020 |

What is blockchain smart contracts?

Severine Johnson

Digital Marketing Executive | Posted 20 Sep, 2020

Blockchain is a type of shared, diary or spreadsheet, or distributed ledger which contains information about transactions. Or in other words, we can say that transactions are digitally recorded in such a way that they provide a complete history of a particular asset.

Whereas a smart contract contains lines of code that are built on a blockchain and once the terms and conditions that are predetermined by the parties are met, automatically executes them. The advantage of smart contracts is in business collaborations, in which smart contracts are typically used to enforce some type of agreement to the parties so that all the participants know the outcome without human intervention.

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