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    Smart Contract: Empowering Trustless Logic for Scalable Web3 Innovation
    Smart Contract: Empowering Trustless Logic for Scalable Web3 Innovation
    Smart Contract: Empowering Trustless Logic for Scalable Web3 Innovation
    Ebook279 pages3 hoursDecentralized Application

    Smart Contract: Empowering Trustless Logic for Scalable Web3 Innovation

    By Fouad Sabry

    ()

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    About this ebook

    The world of decentralized applications is transforming industries and reshaping the future of technology. "Smart Contract" offers a comprehensive dive into the essential components of decentralized systems, with a detailed exploration of smart contracts, blockchain technologies, and cryptoeconomics. Whether you're a professional, student, or enthusiast, this book will equip you with the knowledge to understand and innovate in this rapidly advancing field


    Smart contract-Learn the fundamentals of smart contracts and their role in automating transactions and agreements without intermediaries


    Tezos-Explore the Tezos blockchain, its selfamending mechanism, and its impact on decentralized applications


    Decentralized application-Understand the architecture and design principles behind decentralized applications (dApps) and their growing importance


    Decentralized autonomous organization-Delve into DAOs, which represent a new form of governance and organizational structures in blockchain ecosystems


    Cryptoeconomics-Discover the intersection of economics and cryptography, exploring how these concepts power blockchainbased systems


    Cryptocurrency-Learn about cryptocurrencies, their underlying technologies, and their role in decentralized networks


    Cryptocurrency wallet-Explore the mechanisms behind cryptocurrency wallets, their security features, and their essential role in decentralized finance


    Hyperledger-Understand Hyperledger's role in supporting enterprise blockchain solutions and its impact on decentralized applications


    Smart bond (finance)-Learn how smart bonds enable automated, transparent, and secure financial transactions on the blockchain


    Ethereum Classic-Explore Ethereum Classic, its history, and its divergence from Ethereum, providing insight into its unique blockchain features


    Ethereum-Study Ethereum’s foundational role in smart contract technology and its dominance in the world of decentralized applications


    Cardano (blockchain platform)-Investigate the Cardano platform, its focus on scalability, sustainability, and its contribution to decentralized ecosystems


    Counterparty (platform)-Understand how the Counterparty platform enables decentralized finance and asset creation within the Bitcoin network


    Gavin Wood-Learn about Gavin Wood, cofounder of Ethereum, and his contributions to blockchain technology and decentralized applications


    Blockchain-Gain a deep understanding of blockchain technology, the backbone of decentralized applications, and its potential for transformation


    Solidity-Dive into Solidity, the programming language used for creating smart contracts on Ethereum, and learn how to build decentralized applications


    Decentralized finance-Explore decentralized finance (DeFi), a rapidly growing sector that eliminates intermediaries and empowers users with financial freedom


    Distributed ledger technology law-Understand the legal implications and regulations surrounding distributed ledger technologies and blockchain applications


    Chainlink (blockchain oracle)-Discover how Chainlink bridges the gap between smart contracts and realworld data through decentralized oracles


    Joseph Lubin (entrepreneur)-Learn about Joseph Lubin’s contributions to Ethereum, decentralized technologies, and the broader blockchain space


    The DAO-Study the history and significance of The DAO, one of the first experiments in decentralized governance and its lessons for blockchain development

    LanguageEnglish
    PublisherOne Billion Knowledgeable
    Release dateApr 24, 2025
    Smart Contract: Empowering Trustless Logic for Scalable Web3 Innovation

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      Book preview

      Smart Contract - Fouad Sabry

      Chapter 1: Smart contract

      The term smart contract refers to a computer program or a transaction protocol that is designed to automatically execute, control, or document events and acts in accordance with the conditions of a contract or an agreement.  A reduction in the need for trusted intermediaries, costs associated with arbitration, and losses incurred due to fraud are some of the goals of smart contracts. Additionally, smart contracts aim to reduce the number of exceptions that are both intentional and inadvertent.  There is a widespread association between smart contracts and cryptocurrencies. The smart contracts that were introduced by Ethereum are usually believed to be an essential building block for applications that involve decentralized finance (DeFi) and non-fungible tokens (NFT).

      The Bitcoin protocol is described as a poor form of the smart contract concept as it was initially defined by Nick Szabo in the Ethereum white paper that was written by Vitalik Buterin in 2014. However, Buterin presented a stronger version of the smart contract concept that was built on the Solidity language, which is designed to be Turing complete.  Since then, a number of different cryptocurrencies have begun to enable programming languages that make it possible for more sophisticated smart contracts to be created between parties that cannot be trusted.

      A smart contract should not be confused with a smart legal contract, which is a traditional, legally enforceable agreement that is written in natural language and has selected terms that are stated and implemented in code that is readable by machines.

      Nick Szabo began using the term smart contract in 1996 to refer to contracts that would be enforced by physical property (such as hardware or software) rather than by the law. As of that year, the term has become widely used.  A good illustration of this idea was provided by Szabo in the form of vending machines.  The word was first used in 1998 to refer to objects that were located in the rights management service layer of the system known as The Stanford Infobus, which was a component of the Stanford Digital Library Project as

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