Smart contracts
By CoinGecko | Updated on Mar 03, 2020
Smart contracts are a relatively new concept due to the impossibilty of a decentralized and unsupervised self executing contract prior to the creation of public blockchains. Unlike traditional contracts that relies on its participant's good faith to act on or enforced by a witness or notary, Smart contracts will execute its predetermined function as soon as its contract conditions are met. Just as cryptocurrencies made counterparty risk obsolete, smart contract removes the risk of contract defaults because it will execute autonomously and transparently.
Related Terms
Bear Market
Contrary to bull market, it indicates the direction of the market going for downward trend.
Smart contracts
Self executing contracts on the blockchain without needing human executors or notary.
Dead Cat Bounce
Price rally that is short lived after a prolonged decline. Price charts will show a recovery in anticipation of a market turnaround only to decline further.
Hyperledger (Hyperledger Foundation)
Hyperledger is an open source collaborative effort to create blockchain technologies hosted by The Linux Foundation since 2016.
Interested to stay up-to-date with cryptocurrencies?
Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Or check it out in the app stores
