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. 


Bigger Ethereum Blocks: Buterin's new proposal

2 Dec 2021 4 minute read 2 comments mpyllan

Vitalik Buterin has shown an insistent attitude in trying to solve the issue of high fees in Ethereum.   Bigger Ethereum Blocks may solve the fees problem. (Photo by DrawKit Illustrations on Unsplash)     In Short   The proposal would allow handli...

Behind the Scenes with "First Steps in DeFi: a Scrypto Tutorial"

2 Dec 2021 2 minute read 0 comments RockHoward

It has been a week since my last blog post but I have a good excuse for the silence. I co-wrote a book. A short one I will admit, but still... As you may recall my last post featured a click bait style headline: Get Paid in Radix $XRD for Coding with...

01 DEC 2021 (WED)- Cardano (ADA) Report Card

1 Dec 2021 5 minute read 1 comment quantdoge

Investment Disclaimer: I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only. Past performance presented here is not an indicator of future per...

Loopring in focus, how does it give you zero gas fees?

30 Nov 2021 3 minute read 5 comments Austras

The more a blockchain is utilized, the more expensive it is to maintain and use. Ethereum is the biggest example as it has the largest DEFI ecosystem but currently the barrier of entry is so high that new adopters would go through a significant risk....

Klaytn in focus, bridging the gap between private and public blockchains

29 Nov 2021 2 minute read 3 comments Austras

Public blockchains enjoy a open and decentralized chain where strength lies in the numbers of nodes and users. Sadly this comes with drawbacks as most public blockchains are either very expensive or slow, usually they try to make up for this by sacri...

27 NOV 2021 (SAT)- Solana (SOL) Report Card

27 Nov 2021 5 minute read 2 comments quantdoge

Investment Disclaimer: I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only. Past performance presented here is not an indicator of future per...

Cryptocurrency and Corrective Political Economy

26 Nov 2021 7 minute read 14 comments Shane Wahl

The Enlightenment period ushered in a fundamental "Copernican-like" revolution in terms of the West's understanding of State authority and the inalienable rights that humans have because they are human, and this led to actual political revolutions in...

Running Cardano (ADA) Node With GetBlock: What’s Under Hood of Our APIs

26 Nov 2021 1 minute read 0 comments GetBlock

Here’s how GetBlock clients access the largest Proof-of-Stake network and newest smart contracts hosting platform. In September, blockchain Cardano by Input Output Global, made headlines by the activation of smart contract functionality. As such,...

Running Cardano (ADA) Node With GetBlock: What’s Under Hood of Our APIs

25 Nov 2021 1 minute read 1 comment GetBlock

Here’s how GetBlock clients access the largest Proof-of-Stake network and newest smart contracts hosting platform. In September, blockchain Cardano by Input Output Global, made headlines by the activation of smart contract functionality. As such,...

DeFi in SmartBCH

25 Nov 2021 1 minute read 0 comments Ana Dantra

SmartBCH is sizzling with life and possibilities since it came to be around September of this year (2021). Based on the well known and long established coin Bitcoin Cash, SmartBCH adds smart contracts to the high efficiency of BCH. The result is a my...