Like many things surrounding the blockchain community, Ethereum’s smart contracts can be a confusing concept to most.
Smart contracts seem a bit difficult to understand because the term confuses the base interaction described. They are a new possibility due to the ethereum public blockchain.
A smart contract binds a relationship with cryptographic code, whereas a standard contract is an outline of the terms of a “relationship” and is usually enforced by law.
To describe them a little more clearly, smart contracts are programs that carry out the exact tasks set by their original makers. They help you exchange money…
This excerpt was originally published by CryptoCurrencyNews.com in 2017. Read the full article (archived copy).
