What is Ethereum Smart Contract?
Ethereum update
A smart contract is a code (software) that runs on a blockchain. This software executes a series of commands automatically if a predetermined situation occurs. Once a contract is signed on a free Blockchain such as Ethereum, no one can prevent it from being implemented, and in fact the contract has an enforcement guarantee.
•Before we go into more detail about the smart contract, let's first review the description of a normal contract.
•A normal contract is an agreement between two or more people that commits them to something in the future. For example, Behzad undertakes to pay Majid a monthly fee for using the house for one year, which is called a lease or "lease". As another example, Amir Company guarantees that in exchange for a sum of money, it will pay for possible damages to Saeed's car in future accidents, which is called an insurance contract or "insurance policy".
•What makes the difference between a regular contract and a smart contract is that in smart contracts, computer code solves the problem of the need for trust. As we have said, once a smart contract is executed on a free blockchain like Ethereum, it can no longer be stopped and no one can stop it. With smart contracts, you can create programs and projects that continue to work without any intermediaries and disabling, so that even the smart contract developer himself can not change the smart contract code registered in the bockchain.
