Redefining Trust: Smart Escrow Contracts

September 18th 2021 new story

Blockchain smart contracts enable trust-minimizing escrow agreements, where value can be received, held, and remitted pursuant to objective conditions and triggers. Smart escrow contracts leverage the security of thousands of independent nodes running automatically executing code which can also leverage ‘off-chain” data, such as ‘oracle’s’ software known as an “oracle.” The oracle receives data requests from blockchain smart contracts (such as the smart escrow contract suggested here) and returns the data in a readable format for blockchains.

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Redefining Trust: Smart Escrow Contracts
Source: Super Trending News PH