smart contract

English

Etymology

Coined by American computer scientist Nick Szabo in 1996.

Noun

smart contract (plural smart contracts)

  1. (technology, cryptocurrencies) A software protocol that is capable of automatically enforcing terms agreed upon in a contract.
    • 2019, Kevin Solorio, Randall Kanna, David H. Hoover, Hands-On Smart Contract Development with Solidity and Ethereum, O'Reilly Media, →ISBN, page 240:
      These are only a few examples of ways you can secure your smart contracts. The best thing to do to create a secure smart contract is to find an external auditor.
    • 2020, Miadreza Shafie-khah, Blockchain-Based Smart Grids, Elsevier, →ISBN, page 112:
      Technically speaking a smart contract is a self-enforcing agreement between parties, mutually unknown and otherwise anonymous counterparts, which is capable of executing the rules automatically in satisfying certain conditions.

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