Bitcoin’s Smart Contracts Will Have Additional Safeguards

Smart contracts hold tremendous promise as the 'killer app' for blockchains. If you're not familiar, a smart contract is a computer program that automatically executes the terms of a contract on a blockchain. In principle, you can use smart contracts for a wide variety of purposes, such as wireless service contracts, apartment and hotel room rentals, freelance work contracts, automating payments – anyplace you'd want to cut out the middle person. With more than $17bn in assets stored in just the top 10 cryptocurrencies, there currently is a huge opportunity to give existing blockchain....

Hackers are soon going to be the new lawyers as the adoption of smart contracts increase in the near future. The advent of Blockchain 2.0 and Blockchain 3.0 has given rise to new ways of automation using Bitcoin’s underlying technology. There are special cryptocurrency platforms like Ethereum, Rootstock, Counterparty, Lisk and more that allows people to create smart contracts on the blockchain. These smart contracts enable automation by allowing developers to set trigger conditions. These trigger conditions are certain prerequisites, when met, will execute the function programmed on the....

With contributions from Zerado, FinTech Network have produced a whitepaper that looks at smart contracts and how they could improve efficiencies within the banking sector. The whitepaper highlights: How smart contracts aim to provide security that is superior to traditional contract law and ways they can reduce other transactional and administrative costs. The workings of Ethereum as one of the best examples of smart contracts in practice. Ways that smart contracts could benefit areas such as mortgages, clearing and settlement, KYC & bonds. How challenges with conceptual misalignment,....

Hybrid smart contracts will change the world by revolutionizing the legal system that exists today. The era of unintelligible contracts written in legalese by lawyers in $2,000 suits with degrees from Ivy League schools is over. The contracts of the next century will be hybrid smart contracts, written in code by programmers wearing $20 hoodies and living in their NYC-shared apartment.What is a hybrid smart contract?Smart contracts are self-enforcing contracts, written in code and executed by the blockchain. These smart contracts are great at sending and receiving money, and doing simple....

The Counterparty team wants to err on the side of caution when bringing the Ethereum smart contracts to the mainnet. There has been a lot of talk of bringing Ethereum smart contracts to the Counterparty mainnet in recent months. Not too long ago, it seemed like this project was set in stone, but some last-minute adjustments had to be made. Now that the latest EVM has been ported to the Counterparty, exciting things are on the horizon. Ethereum Smart Contracts On Counterparty Mainnet? That is the question everybody would like an answer to, and it appears as if the Counterparty team is....