Security with Block Chain Technology:Part 3 |(Researching in Smart Contracts- Block Chain)
Security with Block Chain Technology: Part 3 Security by Design | Researching in Smart Contracts- Block Chain If you are a block chain enthusiast, user, miner or any person involved with the usage of block chain, you will know about Smart Contracts. For people who are new to it, let’s state in simple lines about Smart Contracts: What are smart contracts? Smart contracts are part of executable code that automatically runs on the block chain model to execute agreement presets between multiple parties involved in the transaction. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible. Implementation relies on- Byzantine fault-tolerant algorithms which allows digital security through decentralization to form smart contracts. Notable examples of implementation of smart contracts include the following: · Bitcoin · ...