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1. www.ibm.com › topics › smart-contractsWhat Are Smart Contracts on Blockchain? | IBM

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   Learn what smart contracts are and how they work on blockchain, a distributed ledger technology. Discover the advantages of smart contracts for businesses and industries, and explore IBM's blockchain solutions and resources.

2. www.investopedia.com › terms › sWhat Are Smart Contracts on the Blockchain and How Do They Work?

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   • What Is A Smart Contract?
   • History of Smart Contracts
   • Smart Contract Uses
   • Smart Contract Pros and Cons
   • The Bottom Line
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   A smart contract is a self-executing program that automates the actions required in an agreement or contract. Once completed, the transactions are trackable and irreversible. The best way to envision a smart contract is to think of a vending machine—when you insert the correct amount of money and push an item's button, the program (the smart contra...

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   Smart contracts were first proposed in 1994 by Nick Szabo, an American computer scientist who conceptualized a virtual currency called "Bit Gold" in 1998, 10 years before Bitcoin was introduced. Szabo is often rumored to be the real Satoshi Nakamoto, the anonymous Bitcoin inventor, which he has denied. Szabo defined smart contracts as computerized ...

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   Because smart contracts execute agreements, they can be used for many different purposes. One of the simplest uses is ensuring transactions between two parties occur, such as the purchase and delivery of goods. For example, a manufacturer needing raw materials can set up payments using smart contracts, and the supplier can set up shipments. Then, d...

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   The primary benefit of smart contracts is similar to the benefit of blockchain technology—they remove the need for third parties. Other benefits of this technology are: 1. Efficiency: They speed up contract execution 2. Accuracy: There can be no human error introduced 3. Immutability: The programming cannot be altered Some of the downfalls of smart...

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   Smart contracts are code written into a blockchain that executes the actions two parties agree to outside the chain. By automating these actions, the need for an intermediary or trust between the parties is removed.

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   Learn what smart contracts are, how they work, and why they are important for blockchain technology. Find out the benefits and drawbacks of using smart contracts for various purposes, such as transactions, trading, lending, and more.

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3. ethereum.org › en › developersIntroduction to smart contracts | ethereum.org

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   Apr 22, 2024 · What is a smart contract? A "smart contract" is simply a program that runs on the Ethereum blockchain. It's a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain. Smart contracts are a type of Ethereum account.

4. en.wikipedia.org › wiki › Smart_contractSmart contract - Wikipedia

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   The most popular blockchain for running smart contracts is Ethereum. On Ethereum, smart contracts are typically written in a Turing-complete programming language called Solidity, and compiled into low-level bytecode to be executed by the Ethereum Virtual Machine.

5. Videos

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     Smart contracts - Simply Explained

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     What is A Smart Contract? | Smart Contracts Tutorial | Smart Contracts in Blockchain | Simplilearn

     Aug 8, 2018

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     How To Create A Smart Contract | Ethereum Smart Contracts Explained | Blockchain | Simplilearn

     May 9, 2022

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6. www.techtarget.com › searchcio › feature10 examples of smart contracts on blockchain | TechTarget

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   Aug 31, 2023 · Smart contracts on blockchain could improve how consumers interact with their preferred entertainment choices. For example, nonfungible tokens (NFTs) are a type of smart contract that authenticates ownership and streamlines the buying, selling and trading of digital entertainment assets.

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7. ethereum.org › en › smart-contractsSmart contracts | ethereum.org

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   Mar 7, 2024 · Smart contracts are the fundamental building blocks of Ethereum's application layer. They are computer programs stored on the blockchain that follow "if this then that" logic, and are guaranteed to execute according to the rules defined by its code, which cannot be changed once created.

8. builtin.com › blockchain › smart-contracts-blockchainSmart Contracts in Blockchain: An Overview | Built In

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   Learn what smart contracts are, how they work, and why they are important for blockchain applications. This article also explains the terms, platforms, and examples of smart contracts in various industries.