Smart contracts

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Smart contracts are transactions that hold some code.

In Ethereum some coins (ETH) must be spend to cover the resources needed to execute the code. This is called 'gas'.

Smart contract are on the blockchain and therefor reside on a specific address. Sending some fee (gas) to a smart contract executes it (on Ethereum in the Ethereum Virtual Machine).

A simple contract has 3 roles:

  1. client (who wants something)
  2. supplier (who delivers something)
  3. deployer (the intermediary)
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