“smart contract is a proposed tool to automate human interactions: it is a computer protocol – an algorithm – that can self-execute, self-enforce, self-verify, and self-constrain the performance of a contract.[30][31][32] Whereas Bitcoin and its direct progeny are referred to as the “1.0” generation, as shown below, contracts, on “2.0” platforms – the next generation of cryptocurrency, are able to enforce themselves.[33] They do not have a physical enforcement arm the way legal contracts do.[34] Rather, because they embody complex contractual relationships in computational material, they move certain defined asset(s) automatically under certain conditions. ”
―
Great Chain of Numbers: A Guide to Smart Contracts, Smart Property and Trustless Asset Management
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Great Chain of Numbers: A Guide to Smart Contracts, Smart Property and Trustless Asset Management
by
Tim Swanson42 ratings, average rating, 3 reviews
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