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Smart contracts | ethereum.org

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A non-technical introduction to smart contracts

Copy .md Copy .md Edit page (opens in a new tab) Smart contracts are the fundamental building blocks of Ethereum's application layer. They are computer programs stored on the that follow "if this then that" logic, and are guaranteed to execute according to the rules defined by its code, which cannot be changed once created. Nick Szabo coined the term "smart contract". In 1994, he wrote an introduction to the concept (opens in a new tab) , and in 1996 he wrote an exploration of what smart contracts could do (opens in a new tab) . Szabo envisioned a digital marketplace where automatic, processes

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