Question

What is a smart contract in the context of blockchain

Q: Answer-What is a smart contract in the context of blockchain technology?

A smart contract is a self-executing program with code that automatically executes and enforces the terms of a contract on a blockchain when specific conditions are met, eliminating the need for intermediaries.

technology?

A A legally binding contract between blockchain participants

B An automated program that enforces contract terms on a blockchain

C A mechanism for resolving disputes in blockchain transactions

D A protocol for establishing secure connections between blockchains

E All of these

Practice Next

More IT Networking Questions

Priority Sector lending actually means lending to
From which country did India adopt the concept of economic planning?
What is the definition of a supply chain in a business context?
What economic system is characterized by a free-market economy?
Which entity is tasked with the administration of direct tax laws in India?
Which one of the following is not one of the main objectives of the (Special Economic Zones Act) SEZ Act 2005?
What is the impact of high inflation on the economy?
What is the duration associated with "Notice Money" in the financial markets?
Which one of the following is not a method of estimating the National Income of a country?
Which committee recommended the establishment of Regional Rural Banks in India?

What is a smart contract in the context of blockchain

Solution