Smart contracts in blockchain technology

Harvard university cryptocurrency stephen bannon

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Smart Contracts Explained, Blockchain technology
Smart contracts are executed on blockchain, which means that the terms are stored in a distributed database and cannot be changed. Transactions are also. Smart contracts on a blockchain can store arbitrary state and execute arbitrary computations. End clients interact with a smart contract through transactions. A smart contract is a decentralized computer program running on a blockchain network that automatically and deterministically executes.