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smart contract

A self-executing digital agreement with the terms of the contract directly written into lines of code, which automatically executes and enforces the terms when predefined conditions are met without the need for a central authority.
Noun
pl: smart contracts

Meanings

Noun

A self-executing digital agreement with the terms of the contract directly written into lines of code, which automatically executes and enforces the terms when predefined conditions are met without the need for a central authority.

The company implemented a smart contract to automate payments to vendors once the shipping carrier confirmed delivery.

Examples

The company implemented a smart contract to automate royalty payments to artists.

Business

The company implemented a smart contract to automate royalty payments to artists.

We can use a smart contract to ensure the funds are released only after the delivery is confirmed.

Business

We can use a smart contract to ensure the funds are released only after the delivery is confirmed.

none

A smart contract removes the need for a trusted third party to oversee the transaction.

none

I wonder if a smart contract could handle the complex logic of this insurance claim.

Business

The developer is currently auditing the smart contract for any security vulnerabilities.

none

Just deploy the smart contract to the mainnet once the tests pass.

none

The terms are immutable once the smart contract is deployed to the blockchain.

Trivia

Could a smart contract actually replace a traditional notary in the future?

Business

The payment was triggered automatically by the smart contract as soon as the deadline passed.

Related Words

Última atualização: May 2026Reportar um erro