1)They’re digital, tiny programs stored inside of a blockchain. Take the example of Kickstarter; someone lists their funding goals, people send them money; if the goal gets completed Kickstarter gives that money to the project team. If not, then that money gets refunded back to the people who donated it. Thus, both the project team and donors trust a third party to fulfill these promises. With Smart Contracts, we can build a system that doesn’t require a third party at all.
2)We can instead, create a smart contract that does the exact same job automatically and is relatively safer because it resides inside of a blockchain and thus inherits all its benefits.
3)Smart Contracts are distributed, immutable; no one can tamper with the contract behind your back once it’s launched. Ethereum supports smart contracts, it was specifically designed and created to support smart contracts; a programming language called solidity made for Ethereum, is used to program smart contracts. Its syntax is similar to that of JS. Bitcoin also supports smart contracts , but the support is limited.
4) In Hyperledger, however we can create chaincode as per our requirements (Fabric) or a business network in the same manner (Composer).

1)They’re digital, tiny programs stored inside of a blockchain. Take the example of Kickstarter; someone lists their funding goals, people send them money; if the goal gets completed Kickstarter gives that money to the project team. If not, then that money gets refunded back to the people who donated it. Thus, both the project team and donors trust a third party to fulfill these promises. With Smart Contracts, we can build a system that doesn’t require a third party at all.

2)We can instead, create a smart contract that does the exact same job automatically and is relatively safer because it resides inside of a blockchain and thus inherits all its benefits.

3)Smart Contracts are distributed, immutable; no one can tamper with the contract behind your back once it’s launched. Ethereum supports smart contracts, it was specifically designed and created to support smart contracts; a programming language called solidity made for Ethereum, is used to program smart contracts. Its syntax is similar to that of JS. Bitcoin also supports smart contracts , but the support is limited.

4) In Hyperledger, however we can create chaincode as per our requirements (Fabric) or a business network in the same manner (Composer).

Smart Contracts

Frontend engineer at Nord Finance. Fullstack web dev from neogcamp'21. Interested in web-dev (MERN), React-native, web3 and game-dev.


A blog about journey to fullstack web development and other interesting things.