Smart Contract is a computer protocol designed to promote, check, or execute the execution of a contract digitally. The word “smart contract” was first coined in 1994 by Nick Szabo, an American cryptographer, and computer scientist.
Smart Contracts help you share assets in an open, conflict-free Blockchain-based ecosystem. The smart contract is being built and further deployed on top of the blockchain. They are the automated or digital versions of the traditional contracts.