What is a Smart Contract?
We’re pretty sure, that our beloved readers are fully aware about the features and functionalities of the Smart Contracts, but we wanted to provide a Smart Contract 101 education post for those who do not possess knowledge about them. Also we highlighted the use cases for the smart contracts inside of the ASSEMBLE Protocol.
According to Investopedia, a smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code, without human intervention. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible.