Smart contracts

Smart contracts are tiny applications that run on a blockchain. The biggest smart contract platform is Ethereum.

These contracts allow you to lock up your funds and release them when certain conditions are met. With this technique we can implement many banking products without the need of central authority. Things like automatic payments and investment products could be handles by smart contracts.

Sources

Hertig, A. (2017). How Do Ethereum Smart Contracts Work? Coindesk. Retrieved from https://www.coindesk.com/information/ethereum-smart-contracts-work/

Rosic, A. (2017). Smart Contracts: The Blockchain Technology That Will Replace Lawyers. Blockgeeks. Retrieved from https://www.coindesk.com/information/ethereum-smart-contracts-work/

Szabo, N. (1997). Formalizing and Securing Relationships on Public Networks. First Monday, 2(9). https://doi.org/10.5210/fm.v2i9.548

K, L. (2017). What is Blockchain and Smart Contracts? Brief introduction. Retrieved from https://medium.com/startup-grind/gentle-intro-to-blockchain-and-smart-contracts-part-1-3328afca62ab

Solidity. (2017). Stiftung Ethereum. Retrieved from http://solidity.readthedocs.io/en/latest/

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