Everything About Smart Contract - News, Opinion & Analysis

Smart Contract

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A smart contract is a self-executing digital contract enforced by the terms of an agreement that are written into lines of code. When a smart contract’s predefined rules are met, the agreement is automatically enforced and the contract is executed.

The term “smart contract” was first proposed by Nick Szabo in 1994. Szabo defined smart contracts as computerized transaction protocols that execute terms of a contract. He envisioned smart contracts to revolutionize financial transactions by bringing them to the digital realm. With the advent of cryptocurrencies and blockchain technology, Szabo’s vision is being fulfilled as smart contracts are being implemented on blockchain or distributed ledger technology. 

Smart contracts enable credible transactions to be executed without third parties and are thus superior to traditional contract law and reduces the transaction costs associated with contracting. They allow anything of value to be transacted in a transparent, trustless, and conflict free way without a middleman. Therefore, smart contracts have the potential to disrupt and revolutionize a number of industries with their numerous use cases.

Such use cases include and are not limited to; banking and financial services, prediction markets, insurance, digital identity, real estate and land titles recording, authorship and intellectual property rights, the internet of things (IoT), tax records, and more.  

Smart contract technology is being implemented on a multitude of cryptocurrencies and blockchain protocols that enable developers to write their own programs and smart contracts. Ethereum is the most notable blockchain protocol enabling smart contracts and others include EOS, Cardano, NEO, Hyperledger, NEM, Tron, and the list goes on. 


Learn to detect a smart contract investment scam.

12 Aug 2020 2 minute read 1 comment alberdioni8406

The Cryptocurrency world is on expansion with many projects exploding into internet that also gives space to smart criminals to act and execute dangerous smart contracts investments scams. This ones at prior could be very attractive to investors whom...

Total Eclipse on Callisto - an expected feature for privacy on blockchain

11 Aug 2020 1 minute read 0 comments CoolCrypto

Few weeks ago i posted about How I optimize my Callisto - Clo earnings I forgot to mention that the CLO could be cold staked on many wallets like Coinomi, Guarda, Magnum or Trust wallet. But more important  was that tweet by Yohan Graterol, Callisto...

Introduction

11 Aug 2020 1 minute read 2 comments Julian Cislo

Welcome to Fore; an original attempt at growing a game Universe entirely on the blockchain. Fore is both a community-driven blockchain game, and a series of experimental tokens (known as “Matter”) with unique rules and use-cases. The possibilities in...

Top Things You Should Know About Ethereum (ETH)

7 Aug 2020 11 minute read 12 comments MuyAsk

Hey guys :) I’m back with another comprehensive Q&A piece, this time for the leading open-source platform for decentralized applications – Ethereum (ETH). Ethereum is a decentralized smart contract computing platform that enables developers to build...

A Beginner’s Guide To Ethereum And Its Applications (pt. 1)

6 Aug 2020 3 minute read 0 comments Cryptos.com

The post-Bitcoin era has seen the birth of several crypto-projects, including Ethereum, with goals ranging from purely tech advancements to to-the-moon aspirations. As this whole scene is still at an embryonic stage, and, fancy terminology can be fou...

Overdraft smart contract using pyteal

6 Aug 2020 11 minute read 1 comment Ddev

  Smart contract hosting is a one of the great features of Algorand technology potentials of which many developers are yet to uncover. If you have written code and deploy on Ethereum network a using solidity, you would attest to the intricacies invo...

DeFi Protocol Opyn hacked. More than $370,000 stolen from the smart contract.

5 Aug 2020 1 minute read 0 comments lioha369

Around 4 AM PT today Defi Protocol Opyn was hacked by means of a double-spend attack. This protocol offers options for ETH, DeFi tokens, and insurance on Compound deposits. The hacker found an exploit in Opyn protocol's options tokens (oTokens) and u...

DeFi Protocol Opyn Hacked, Over $370K in User Funds Stolen

5 Aug 2020 1 minute read 0 comments Abhi K

Decentralized insurance platform Opyn was hacked on August 4, resulting in the theft of over $370,000. The hacker exploited a flaw in the Opyn ETH Put contracts, which is the only contract that has been affected.  The exploit allowed the attacker  t...

Why Staking WIN Tokens on Wink Is A Strong Move For 2020

4 Aug 2020 2 minute read 9 comments Sapphire

Wink Continues To Be A TRX Dapp Leader Whenever you make use of Poloni DEX, you will always notice that the WIN token is always in the top tokens being traded on the DEX. WIN is one of the very first TRX tokens and continues to be in demand as users...

Ethereum founder Vitalik Buterin has warned about the risks of smart contract exploits in DeFi.

2 Aug 2020 1 minute read 0 comments Crypto_MD

Vitalik Says DeFi Users Are ‘Underestimating Smart Contract Risk’ Ethereum co-founder Vitalik Buterin has warned of the dangers of ‘smart contract risk’ in DeFi protocols in an interview to mark Ethereum's fifth birthday. Buterin also warned users...