Smart Contracts Explained, Blockchain technology

Smart contracts are computer programs that are hosted and executed on a #blockchain network. Each smart contract consists of code specifying predetermined conditions that, when met, trigger outcomes. By running on a #decentralized blockchain instead of a centralized server, smart contracts allow multiple parties to come to a shared result in an accurate, timely, and tamper-proof manner. Smart contracts are tamper-proof programs on #blockchains with the following logic: “if/when x event happens, then execute y action.” One smart contract can have multiple different conditions and one application can have multiple different smart contracts to support an interconnected set of processes. There are also multiple smart contract languages for programming, with #ethereum 's #solidity being the most popular. ... https://www.youtube.com/watch?v=bQ4FLmGvRY4