A Blockchain Technology and Ethereum Smart ContractBlockchain Technology and Ethereum Smart Contract • August 18th, 2021
A smart contract is executable code that runs on the blockchain to facilitate, execute and enforce the terms of an agreement. The main aim of a smart contract is to automatically execute the terms of an agreement once the specified conditions are met. Thus, smart contracts promise low transaction fees compared to traditional systems that require a trusted third party to enforce and execute the terms of an agreement.