August 2018
Beginner to intermediate
94 pages
2h 37m
English
Content preview from Learn Bitcoin and Blockchain
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Understanding smart contracts
Smart contracts are at the core of blockchain technology. These are programs written in Turing-complete programming languages and are capable of self-verifying and self-executing agreements that can function autonomously or without any external intervention. In layman's terms, if we consider Bitcoin as digital money, a smart contract is highly programmable digital money. A smart contract is a piece of code that is stored in the blockchain, is triggered by the blockchain transactions, and which then reads or writes data from/to that blockchain's database.
The network of nodes will only validate transactions if certain conditions are met, but Bitcoin is limited to dealing only with the currency use case. But, what ...
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