A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.
A smart contract is a computer program which is intended to facilitate, verify, or enforce a negotiation/contract that was done in real life.
With a smart contract many kinds of contractual clauses can be made partially or fully self-executing, self-enforcing, or both. The main motive of smart contracts is to provide security that is better to traditional contracts and to cut other transactional costs associated with traditional contracting. Smart contracts on Ethereum network run on something called Ethereum Virtual Machine (EVM) which for visualization purposes is similar to JVM in Java.The Decentralized
Applications (ĐApps) running on the Ethereum network are nothing more than a bunch of Complex Smart Contracts.
To start with Smart Contracts, you'll need the below mentioned tools.
- Mist Browser
- Obtaining test Ether
- Remix IDE
Comments
Post a Comment