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Smart Contracts News

Smart Contracts News

What is a smart contract? Essentially, a smart contract is a decentralized method of confirmation or agreement. Parties can create a smart contract on a blockchain that requires a certain number of digital signatures before an action is carried out or funds are paid, thus removing third-party involvement. Entities can set up smart contracts to fit specific parameters and requirements. Nick Szabo is the father of smart contracts, originating the concept in the 1990s. 

When it comes to a smart contract, Ethereum is often one of the main blockchains mentioned. Smart contract examples and use cases range from monetary transactions to supply chains, voting and much more. Different smart contract programming languages can apply, depending on the use case at hand.