Smart Contract

603 Articles 55 Followers

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. 


18 hours ago 1 minute read 0 comments OfTheFreeMarket

“Gradually, decentralized trust will be accepted as a new and effective trust model. We have seen this evolution of understanding before – on the Internet.” -Andreas Antonopoulos From the beginning, we’ve been mentioning and discussing decentralized...

Smart Contracts.

18 hours ago 1 minute read 0 comments OfTheFreeMarket

“Ethereum is enabling a new form of financing in ICOs that is like a massive gravitational pull – dragging every entrepreneur with a sense for opportunity into its blackhole-level gravity.” -Gil Penchina   I got asked to further define smart contract...

Some Substance

26 Sep 2023 1 minute read 0 comments OfTheFreeMarket

“There is no point in using the word ‘impossible’ to describe something that has clearly happened.”  -Douglas Adams What can Blockchain make happen? Probably one of the best creations in the decentralized world is Smart Contracts and the Ethereum Net...

Trading Volume V.S Liquidity: What You Need To Know

17 Sep 2023 2 minute read 0 comments Mory J.

Most crypto traders only pay attention to the price movement of tokens. After all, the price is the most attractive metric that pulled investors' interest. However, skilled traders go beyond the price when they study the overall strength of an asset...

Create and Deploy Your First Next.js Blockchain DApp with Solidity in Minutes!

11 Sep 2023 3 minute read 1 comment leobgrt

Are you ready to dive into the world of decentralized applications (DApps) and blockchain technology? In this tutorial, I’ll guide you through the process of creating a simple smart contract using Solidity, deploying it, and interacting with it using...


6 Sep 2023 5 minute read 0 comments YPtK7

Smart contracts are a key ingredient to add to products in the world of blockchain technology & in the world of cryptocurrency as smart contracts allow developers to build decentralized apps which are referred to as dapps & create tokens, taking adv...

How To Pre-Approve a Smart Contract From Explorer

6 Sep 2023 2 minute read 1 comment ☑️0🆇D̺͈͙͕̿ͧ̑ͣ🅰🆅🅸🅳eͤ

When you claim an airdrop, you may need to pre-approve the smart contract from the explorer. What is the benefit of this? When there are large numbers of transactions, the network can become congested and queue up transactions. At this point it becom...

Cyber Perpetual Contracts Boast 219% Trading Volume Increase: The Fundamentals of Cyber Perpetual Contracts

6 Sep 2023 5 minute read 0 comments KaySlay

Cyber Perpetual Contracts have recently gained public attention, having reached a trading volume of 9.64 billion USD and 287 million Open Interest in 24 hours according to Coin Market Cap, this is an impressive 218% increase with Perpetual Contracts...

The Ghosts in the Ether : Part One

30 Aug 2023 3 minute read 0 comments Kriptique

-- Demystifying the mysterious but ubiquitous Ethereum Virtual Machine --   An introduction to smart contracts and the ERC-20 standard. The invention of Bitcoin was a revolution. While by far not the most functional or efficient blockchain, it canno...

Smart Contracts and their Benefits

29 Aug 2023 2 minute read 0 comments

Smart contracts drive the new wave of innovation in financial processes and business dealings. Smart contract technology is reshaping conventional industry and business processes. Being embedded in blockchains, smart contracts enable the contractual...