Smart Contracts

Smart Contracts are computerized transaction protocols that execute the terms of a contract.?

A Smart Contract is a combination of code and data (Sometimes called Function and State) that is deployed by cryptographically signed transections on a BlockChain Network.??

The objectives of Smart Contract design is to satisfy common contractual conditions (i.e Payments terms, Liens, Confidentiality, and even enforcement), minimize exception (both malicious and accidental), and minimize the need for trusted intermediaries.

The code being on the blockchain is tamper-evident and tamper resistance eliminates the need for a trusted intermediary.

A Smart Contract can perform calculations, store information, and expose properties to reflect publicly exposed state and if appropriate execute the transfer of funds.

A Smart Contract must be deterministic (i.e given an input, they must always produce the same output given input)