Many think that smart contracts are only executable on overly-complex blockchains, but Bitcoin is a smart contract platform by definition . Many think that smart contracts are only executable on overly-complex blockchains, but Bitcoin is a smart contract platform by definition.
Read moreWhere does a smart contract live?
The contract is stored on the ledger on the Blockchain . So, whenever a transaction happens, a function is invoked that calls the smart contract and the processing is done. Smart Contracts are stored on the Blockchain because it is important for the contract to be available to the people making transactions.
Read moreWhat companies are using smart contracts?
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Read moreIs Uber a smart contract?
A smart contract is essentially what it sounds like – a contract that self-executes. A good way to understand the potential applications of a smart contract is to consider the ride-sharing service Uber . When you order an Uber on your phone, the request gets sent directly to Uber’s big server farm.
Read moreWhat is the best smart contract?
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Read moreDo smart contracts have addresses?
An important aspect of how smart contracts work in Ethereum is that they have their own address in the blockchain . In other words, contract code is not carried inside each transaction that makes use of it.
Read moreHow is a smart contract address generated?
The contract address is usually given when a contract is deployed to the Ethereum Blockchain. The address comes from the creator’s address and the number of transactions sent from that address (the “nonce”) .
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