Smart contract

Abstract

This research paper presents a conceptual overview of smart contract technology and its interaction with blockchain platforms for conducting contract-based transactions. These contracts are characterized by reliability and high cryptographic mechanisms that mimic blockchain technology to preserve and share data on a decentralized basis and a peer-to-peer system. The paper has reached several conclusions, indicating the feasibility of applying smart contract technologies to traditional transactions, the possibility of creating a trusted intermediary without the need for a third party, and the potential for legal adaptation to technology.