What are smart contracts in blockchain example?

Smart contracts platforms deploy, verify, and execute smart contracts . Smart contracts are built upon blockchain technology. They are implemented through computer code which defines the terms and conditions of the contract.

For example, a smart contract to transfer ownership of an apartment once a certain amount of resources have been transferred to the seller’s account(or wallet) . A smart contract can be deployed in a blockchain that keeps track of vehicles maintenance and ownerships.

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.