Introduction to smart Contract
Types of Smart Contract
Structure of a smart contract
Smart contract approaches
Limitation of smart contract
3. Introduction to smart Contract
Blockchain is a constantly growing ledger technology where records and data are
stored permanently for all linked transactions having taken place in a secure,
sequential, and irreversible manner.
Safe transferring of digital money, possessions, contracts, etc.,
with no requirement of a third-party go-between any bank or government, can be
done using this technology.
In this chapter, you will learn about the basics of Blockchain technology.
4. A Blockchain is defined as a series of blocks in which each block contains transaction information.
This method has been proposed to provide timestamps in digital documents, making it impossible to
revert them or change their metadata.
This can be defined as a software protocol that cannot run without the Internet. This can also be called
meta-technology as it influences other technologies, such as a database, software applications,
connected computers, etc.
5. Blockchain characteristics and Components
1. Ledger: Any file with a constantly growing record related to the transaction.
2. Permanent: transaction means that once the transaction goes inside a
Blockchain, it is stored permanently in the record and immutable.
3. Secure: Information is stored securely through this technology as highly
advanced cryptographic techniques are used to ensure that your information is
locked within the Blockchain.
4. Chronological: It means every transaction occurs after the previous one.
7. Who use Block chain
It has a broad discipline of uses as it can be integrated into
As it acts as a distributed ledger over the Internet, it can
handle cryptocurrencies and other promising areas of e-
banking, fintech, government systems, insurance,
healthcare, retails, and transactions.
8. Advantages of block chain
● Time reduction: Blockchain allows for a speedy resolution of trades
with high reliability and security in finance.
● It does not take long to verify, settle, and clear.
● Unchangeable transactions: This technology has the characteristics of
registering transactions in a sequential order that is used for certifying
the inalterability of all operations, which means all the transactions are
● Therefore, modification is restricted, and the integrity of the data is