What Are Smart Contracts? A smart contract is a digital agreement that automatically executes when certain conditions are met. These smart contracts are programmed to self-execute by using blockchain technology and computer code that is unchangeable and transparent. For this reason, smart contracts are often used to create trust when trading goods and services online.
What is Blockchain? Blockchain technology is the digital decentralized ledger that makes cryptocurrency transactions possible. It’s essentially a public record of all financial transactions that is accessible to anyone who participates in the network. Because blockchain is decentralized, no one person or company controls the system. Instead, the ledger is verified and maintained by a
