In terms of crypto, what is a smart contract?
In: Economics
Basically a smart contract is just a program that is added to a blockchain. Once it’s added, it automatically runs and cannot be changed. One example is, say, an inheritance. You create a program that takes, as input, a notarized death certificate, then initiates a transfer of some cryptocurrency. You compile that program and add it to the block chain. Once it is there, the program is available to be executed as written.
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