What are smart contracts?

Smart contracts are computer programs that are hosted and executed on a blockchain network. Each smart contract consists of code specifying predetermined conditions that, when met, trigger outcomes.

Are smart contracts irreversible?

There are three categories of such contracts – Smart Legal Contracts, Decentralized Autonomous Organizations, and Application Logic Contracts. Even though smart contracts are irreversible, developers can adopt indirect ways for updating the codes or clauses for the terms of an agreement if required.

What coding language do smart contracts use?

As you already know, smart contracts can be built on multiple blockchain platforms, including Ethereum and Cardano. Besides, different blockchains might use different programming languages for developing smart contracts. However, the most popular one is Solidity, which is Ethereum's original coding language.

Can a smart contract automate a sale without a human intermediary?

Just like a soda machine can automate a sale without a human intermediary, smart contracts can automate virtually any kind of exchange. Currently, Ethereum is the most popular smart contract platform, but many other cryptocurrency blockchains (including EOS, Neo, Tezos, Tron, Polkadot, and Algorand) can run them.