What Is Smart Contract_
                     What Is Smart Contract?
● Smart contracts are self-executing contracts in which the 
contents of the buyer-seller agreement are inscribed 
directly into lines of code.
● According to Nick Szabo, an American computer scientist 
who devised a virtual currency called "Bit Gold" in 1998, 
Smart contracts are computerized transaction protocols 
that execute contract conditions.
● Using it makes the transactions traceable, transparent, 
and irreversible.
Benefits of Smart 
Contracts
Accuracy, Speed, and Efficiency
● The contract is immediately executed when a condition is 
met. 
● Because smart contracts are digital and automated, there 
is no paperwork to deal with, and 
● No time was spent correcting errors that can occur when 
filling out documentation by hand.
Trust and Transparency
● There's no need to worry about information being 
tampered with for personal gain because there's no 
third party engaged and 
● Encrypted transaction logs are exchanged among 
participants.
Security
● Because blockchain transaction records are encrypted, 
they are extremely difficult to hack.
● Furthermore, because each entry on a distributed 
ledger is linked to the entries before and after it, 
hackers would have to change the entire chain to 
change a single record.
Savings
● Smart contracts eliminate the need for 
intermediaries to conduct transactions, as 
well as the time delays and fees that come 
with them.
COMPANY:   BlockchainX
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