Blockchain Handbook: Essentials of Blockchain Technology and Cryptocurrency by Arora KJ

Author:Arora, KJ [Arora, KJ]
Language: eng
Format: mobi
Published: 2019-04-28T16:00:00+00:00

• Mining is only applicable to public Blockchains and not required on enterprise Blockchains.

Smart Contracts

Smart contracts are programs that are stored on the Blockchain, they execute automatically at predetermined conditions. Smart contracts have great utility in business as transactions can be automated using smart contracts.

Concept of Smart contracts has been around for past 10 years but Ethereum Network was the first Blockchain network to implement smart contract thus making it possible to automatically execute code stored on the Blockchain. Smart contracts are proving to be the building block of the new age distributed applications.

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