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New Technology made possible by public blockchain, smart contract are difficult to understand because the term partly confuses the core interaction described. Smart Contract enforces a relationship with cryptographic code. Smart contract are programs that execute exactly as they are set up to by their creators. First conceived in 1993, the idea was originally described by computer scientist and cryptographer Nick Szabo as a kind of digital vending machine. In his famous example, he describes how users could input data or value, and receive a finite item from a machine. In a simple example, Ethereum users can send 10 ether to a friend on a certain date using a smart contract. Ethereum is a platform that’s built specifically for creating smart contracts. What are smart Contracts? Quoting Wikipedia “A smart contract is a computer protocol intended to digitally facilitate, verify or enforce the negotiation or performance of a contract. Smart contract allow the performance of cr...

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of security feature. Many cryptocurrencies are decentralized system based on blockchain technology. The first blockchain based cryptocurrency was Bitcoin, which still remains the most popular and most valuable. There are thousands of alternate’s cryptocurencies with various functions or specifications. Cryptocurrencies are systems that allows for the secure payments of online transactions that are denominated in terms of a virtual token. The first cryptocurrency to capture the public attention was “Bitcoin” which was launched in 2009 by a group or a person named Satoshi Nakamoto. Bitcoin’s success has created a number of competing cryptocurrencies such as Litecoin , Ethereum , Ripple and many more, Today, there are literally thousands of cryptocurrencies in existence. Cryptocurrencies hold the promise of making it easier to transfe...