"Lesson 2.1: An Introduction to Smart Contracts'' offers a light exploration into one of the most pivotal innovations brought forth by blockchain technology: smart contracts. It provides blockchain with utility beyond mere currency transactions; smart contracts represent self-executing contracts with the terms of the agreement directly written into code. This lesson gives an introduction to the concept, tracing their origins, understanding their mechanics, and exploring their vast potential across various industries.
The genesis of smart contracts can be traced back to the visionary work of Nick Szabo in the 1990s, long before the advent of blockchain as we know it today. Szabo's conceptualization of contracts embedded in digital code laid the groundwork for what would become one of the most pivotal applications of blockchain technology. Through an exploration of smart contracts' historical context, this lesson illuminates the philosophical underpinnings and technical foresight that predated the blockchain revolution, offering learners a comprehensive perspective on the roots of digital contracts.
The lesson then shifts focus to the operational dynamics that underpin their execution on the blockchain. From the immutable recording of agreements to the automatic enforcement of contractual terms, students will gain insights into how smart contracts leverage the decentralized, tamper-proof nature of blockchain to facilitate direct, secure transactions without the need for intermediaries.
This complete lesson can be found at our Discord | ZKM study club | Lessons | Lesson 2.1. An Introduction to Smart Contracts
