Web3 and blockchain technology go far beyond Bitcoin and NFTs. As businesses become more aware of Web3’s possibilities, one feature will play an important role: smart contracts.
Smart contracts enforce an agreement between users in an automated, open and trustworthy way. Written in code and running on-chain, they can be used in place of fragile, high-touch trust relationships requiring extensive paperwork and human ratification.
Ari Juels is the Weill Family Foundation and Joan and Sanford I. Weill Professor at Cornell Tech and Cornell University, co-director of the Initiative for CryptoCurrencies and Contracts (IC3) and chief scientist at Chainlink Labs. He is also author of the 2024 crypto thriller novel “The
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