Smart Contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
Who uses this type of technology?
People from around the world can participate in this decentralized network by creating or using apps that runs on a custom built blockchain that sits on top of Ethereum. As institutional adoption of crypto increases in a big way, organizations need to prepare their operations, technology and risk capabilities for a new future.
decentralized apps run on automated smart contracts
The code and the agreements contained therein exist across a distributed decentralized blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
The Enterprise Ethereum Alliance
An open source standard that addresses enterprise deployment requirements. The goal is to advance in tandem with advances in the Ethereum Main Blockchain. It provides a clear roadmap for enterprise features and requirements.