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Intro

Building on the themes introduced in the Bitcoin whitepaper that try to eliminate the use of intermediaries, Smart Contracts automatically and deterministically executes agreements based on predefined conditions.

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Brief Intro

In 1990s, computer Scientist and lawyer Nick Szabo first proposed the idea of smart contracts and used a vending machine analogy.

Imagine a vending machine: You insert money, select a snack, and it automatically delivers your choice. No cashier needed—the machine enforces the deal. Similarly, a smart contract is a self-executing agreement that runs automatically when conditions are met, without human intermediaries. Smart contracts can automate virtually any kind of exchange.

A smart contract can be created and deployed to a blockchain by anyone. Their code is transparent and publicly verifiable, which means that any interested party can see exactly what logic a smart contract follows when it receives digital assets.