A smart contract is a self-executing contract with the terms written into lines of code across a distributed, decentralized blockchain network.
Liberty Blockchain uses smart contracts.
• Smart contracts are self-executing with the terms of the agreement between buyer and
seller being directly written into lines of code.
• Smart contracts render transactions traceable, transparent, and irreversible.
• Smart contracts permit trusted transactions and agreements to be carried out among disparate,
anonymous parties without the need for a central authority, legal system, or external enforcement