Smart Contracts
Smart contracts are software agents that manage agreements. Automated teller machines are examples of smart contracts:
The term was coined by Nick Szabo. Smart contracts offer many advantages over traditional ways of managing assets. For example, they allow services to be offered cheaply at more times and places than would be possible with human based systems. Some smart contracts, like the Bitcoin system, improve on traditional legal systems:
The term was coined by Nick Szabo. Smart contracts offer many advantages over traditional ways of managing assets. For example, they allow services to be offered cheaply at more times and places than would be possible with human based systems. Some smart contracts, like the Bitcoin system, improve on traditional legal systems:
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