How to Write Smart Contracts on Bitcoinby@allanmangeni
1,734 reads
1,734 reads

How to Write Smart Contracts on Bitcoin

by Allan Mang'eni4mDecember 31st, 2021
Read on Terminal Reader
Read this story w/o Javascript
tldt arrow

Too Long; Didn't Read

Smart Contracts are like castles of math, freely trading with each other. They play an integral role in building a trustless network where users can perform transactions and make agreements without a third party involved. The idea of smart contracts was first proposed in 1994 by Nick Szabo who later went on to invent Bit Gold -- a virtual currency, in 1998. Since then the adoption of smart contracts has evolved to the point that they have various use cases across several industries across the world. According to Investopedia, “A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code.” Bitcoin was the first product to adopt smart contracts in 2009. However, designing smart contracts on Bitcoin was often cumbersome and costly to execute. Such issues led to the rise of other Blockchains like Ethereum, Algorand, Polkadot, Solana that make it easier and cheaper to design and execute smart contracts on Bitcoin.

Coins Mentioned

Mention Thumbnail
Mention Thumbnail
featured image - How to Write Smart Contracts on Bitcoin
Allan Mang'eni HackerNoon profile picture
Allan Mang'eni

Allan Mang'eni

@allanmangeni

software craftsman

Learn More
LEARN MORE ABOUT @ALLANMANGENI'S
EXPERTISE AND PLACE ON THE INTERNET.

Share Your Thoughts

About Author

Allan Mang'eni HackerNoon profile picture
Allan Mang'eni@allanmangeni
software craftsman

TOPICS

THIS ARTICLE WAS FEATURED IN...

Permanent on Arweave
Read on Terminal Reader
Read this story in a terminal
 Terminal
Read this story w/o Javascript
Read this story w/o Javascript
 Lite
Also published here
L O A D I N G
. . . comments & more!