Traditional Culture Encyclopedia - Traditional festivals - What is a smart contract?
What is a smart contract?
Smart contract (English: smart contract) is a computer protocol, which aims to spread, verify or execute contracts in an information-based way. Smart contracts allow trusted transactions without a third party, which are traceable and irreversible. The concept of smart contract was first put forward by Nick Szabo in 1995.
The purpose of intelligent contract is to provide a safer method than traditional contract and reduce other transaction costs related to the contract.
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