This article will hopefully provide a simple understanding of smart contracts, which is hard to locate anywhere else on the internet. Programming tutorials for solidity can be found on youtube with a simple “solidity tutorial” search. The language from my understanding is quite simple.
A smart contract is a logical computer program capable of handling legal, and transactional events. Mostly known because of its relevance to Ethereum blockchain and cryptocurrency.
Smart Contracts have recently been trending due to the explosion of cryptocurrencies such as Bitcoin, and Ethereum. With that lots of CEOs have been interested in the topic like Elon Musk, and Mark Cuban.
The US NIST defines a smart contract as a “collection of code and data (sometimes referred to as functions and state) that is deployed using cryptographically signed transactions on the blockchain network”.
Smart contracts can be programmed in Solidity, a programming language specifically designed for smart contracts, created by Vitalik Buterin (Ethereum’s creator).
Solidity is a simple object-oriented programming language capable of creating and deploying smart contracts on various blockchain platforms.
Thanks for reading my article and hopefully I helped you understand smart contracts in simple terms. If you feel this article has helped you, make sure to leave a few claps, and maybe a follow.
