What is Smart Contract?

Smart Contract is similar to a regular contract, but instead of being created of ink & paper, people make the Smart Contract with the Programming language. Smart Contract is created and stored on a certain Blockchain, in a block, with a timestamp.

Smart Contract can execute automatically by itself, when a certain condition is reached.

It’s a trust-less system with a transparent mechanism.

  1. You can check the code in any Smart Contract, and how it operates before filling up the condition by using any Block Explorer.
  2. Once a Smart Contract is created, it cannot be re-written.
  3. No one operates the Smart Contract, but itself.

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