Legal Status Of Smart Contracts
Smart contracts are self-executing agreements including the conditions of an arrangement among peers. The smart contract performs on the Ethereum blockchain's decentralized platform. The arrangements assist in the exchange of cash, shares, home, or any property. Since the 2015 launch of the Ethereum blockchain, the term "smart contract" has been more specifically applied towards the concept of general function computation that takes place on a blockchain or distributed ledger. https://vimeopro.com/beessocial/blockchain-smart-contracts/video/552041011 Subscribe to BEES.Social on Youtube https://www.youtube.com/c/BeesSocialTV/videos Hence, the smart contract transaction can be submitted to any node on the blockchain, which broadcasts it to the whole network so that all the nodes will see the transaction. Utilizing a blockchain network, we can turn these agreements into executable programs-- known in the industry as smart contracts-- to open a wide variety of brand-new possi