Blockchain technology serves as a decentralized and append-only ledger that captures and stores transactions in a sequential chain of blocks. This structure allows all participants to audit records, ensuring key characteristics such as transparency and security. Smart contracts, extensively applied within blockchains like Ethereum, use Turing-complete languages to facilitate complex functionalities and transactional processes. These contracts operate under specified conditions, update states, and maintain immutability post-confirmation by network participants, automating agreements between parties effectively.
Blockchain technology, conceptualized by Nakamoto, is described as a distributed and append-only ledger where transactions are stored in a chain of blocks, maintaining decentralization and auditability.
Smart contracts, proposed by Szabo, utilize Turing-complete scripting languages to provide complex functionalities and execute transactions based on predefined conditions within blockchain systems.
Collection
[
|
...
]