What Is
A Smart Contract ?
Smart contracts are
self-executing contracts with the terms of the agreement
between buyer and seller being directly written into
lines of code.
Smart contracts were
first proposed in 1994 by Nick Szabo, an American
computer scientist.
Szabo defined smart
contracts as computerized transaction protocols that
execute terms of a contract. He wanted to extend the
functionality of electronic transaction methods, such as
POS (point of sale), to the digital realm.
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