Let me share a pitfall I ran into myself: I didn’t understand this at first.
Nick Szabo wrote a short piece introducing smart contracts in 1994, then wrote another article in 1996 discussing their applications in greater depth.
Originally, smart contracts meant turning the terms of an agreement into code that would execute automatically once the specified conditions were met, reducing reliance on third parties.
Ethereum, where $ETH resides, made it possible to put the concept of smart contracts into practice on a large scale.
When did you figure this out?
Nick Szabo wrote a short piece introducing smart contracts in 1994, then wrote another article in 1996 discussing their applications in greater depth.
Originally, smart contracts meant turning the terms of an agreement into code that would execute automatically once the specified conditions were met, reducing reliance on third parties.
Ethereum, where $ETH resides, made it possible to put the concept of smart contracts into practice on a large scale.
When did you figure this out?