Blockchain Beyond Bitcoin: Smart Contracts in Practice
Blockchain Beyond Bitcoin: Smart Contracts in Practice Smart contracts are self-executing agreements written as code and stored on a blockchain. They automate trust by encoding rules that run when conditions are met. Once deployed, they form a transparent, verifiable, and immutable foundation for agreements between parties who may not fully know or trust each other. Escrow in online markets is a common first use. A buyer deposits funds into the contract, the seller ships the product, and after verification or a timeout, the contract releases payment. The process is clear, and disputes are less likely because outcomes are defined by code rather than by memory or mood. ...