Smart contract definition

Smart contract means a computer program stored in an electronic ledger system wherein the outcome of the execution of the program is recorded on the electronic ledger;

Smart contract means an event-driven program, with state, that runs on a distributed, decentralized, shared, and replicated ledger and which can take custody over and instruct transfer of assets on that ledger.

Smart contract means a form of technology arrangement consisting of -

Examples of Smart contract in a sentence

• Smart contract technology is still in its early stages of development, and its application is of an experimental nature.

• Smart contract technology is still in its early stages of development, and its application is of experimental nature.

• Smart contract users are sometimes more confident with code than their authors, and blockchains and smart con- tracts have their own unique issues to watch out for, so before working on production code, make sure you read the Security Considerations section.

• Smart contract promise low transaction fees com- pared to traditional systems that require a trusted third party to execute an agreement.

• Smart contract execution is initiated by a special (CallContractTransaction) transaction containing the contract ID and call parameters.

More Definitions of Smart contract

Smart contract means a form of technology arrangement consisting of a computer protocol or an agreement concluded wholly or partly in an electronic form, which is automatable and enforceable by computer code, though some parts may require human input and control and which may be enforceable by ordinary legal methods or by a mixture of both;

Smart contract means an event-driven computer program, that executes on an electronic, distributed, decentralized, shared, and replicated ledger that is used to automate transactions, including, but not limited to, transactions that:

Smart contract means software code that:

Smart contract means an event-driven program, with state, that runs on a distributed, decentralized, shared and replicated ledger and that can take custody over and instruct transfer of assets on that ledger.

Smart contract means a computer program used for the automated execution of an agreement or part thereof, using a sequence of electronic data records and ensuring their integrity and the accuracy of their chronological ordering;

Smart contract means a program or digital contract stored on the blockchain that is automatically executed when predetermined conditions are met, excluding front-end services, node infrastructure and/or other non-blockchain services.

Smart contract means an electronic record that is an event-driven program or computerized transaction protocol that runs on a distributed, decentralized, shared, and replicated ledger that executes the term of a contract, including but not limited to, taking custody over and instructing the transfer of assets.