Introduction to smart contract Smart Contract are like digital agreements that automatically execute actions when specific conditions are met. Picture them as self-operating computer programs that run on the blockchain, the digital ledger technology behind cryptocurrencies like Bitcoin and Ethereum. Their significance lies in their ability to revolutionize traditional contract execution. By removing the need […]
What Are Smart Contracts? Smart contract was first proposed in the 1990s as the digital transaction protocol to carry out the terms of an agreement. They are simply containers of code that encapsulate and replicate the terms of real-world contracts in digital form. They form a legal bind agreement among both parties, with each party […]
EU’s Smart Contract ‘Kill Switch’ In recent years, smart contracts have gained popularity as a secure and efficient way to execute transactions without the need for intermediaries. However, as with any technology, there are risks involved, and the European Union (EU) has taken steps to mitigate some of these risks. On March 18, 2023, the […]
