Smart contracts Articles

What are Smart Contracts?

Prasanna Kotamraju

Updated on 30-Jul-2019 554 Views

Cryptocurrency is entirely dependent on Block Chains to maintain their transactions. A block is like a page of a ledger book where some transactions are written in ink, permanent which cannot be altered. A block typically consists of transactions of bitcoin or any other cryptocurrency and the details of transactions - who has sent, who has received, timestamp and previous blocks information to link it to the Block chain. This information is passed through a hashing algorithm like SHA 256 and creates a 32-bit hash value. This hash value is irreversible.Thus a block is a permanent store of records, which ...