Blockchain technology's evolution has brought some remarkable improvements and innovations with it and in recent years they have become the most revolutionary. With all these benefits, Blockchain has brought us many advantages, such as decentralization, openness, peer-to-peer interaction and more, one thing that needs to be discussed is about smart contracts. The latter has totally changed the way the organization works and deals are implemented. In this blog, we will concentrate on the application of smart contracts and their benefits.

1. Copyright © Blockchain Council www.blockchain-council.org 1

2. Copyright © Blockchain Council www.blockchain-council.org
Blockchain technology's evolution has brought some remarkable improvements and
innovations with it and in recent years they have become the most revolutionary. With
all these benefits, Blockchain has brought us many advantages, such as decentralization,
openness, peer-to-peer interaction and more, one thing that needs to be discussed is
about smart contracts. The latter has totally changed the way the organization works and
deals are implemented. In this blog, we will concentrate on the application of smart
contracts and their benefits.
2
What Is A Smart Contract, And How Does
It work?

3. Copyright © Blockchain Council www.blockchain-council.org
Let's have a brief description of what the smart contract is before going to appreciate the
meaning of the smart contract. Simply put, these are pre-programmed contracts that
have a set of terms and conditions agreed by the two parties concerned. This contract
runs on a Blockchain platform, and the payment is executed until the conditions are
fulfilled.
In Solidity, smart contracts are essentially written and are seen as the creators of a new
age of contract execution.
Smart Contract Working:
While many of us assume that a new entrant is a smart contract, the truth of the matter
is that this idea was implemented in 1994.
3
What is a Smart Contract?

4. Copyright © Blockchain Council www.blockchain-council.org
Yeah, you read it correctly; Nick Szabo first suggested the concept of smart contracts in
the year 1994. He was a computer scientist who in 1998, also invested in Bit Gold virtual
currency. Well there's a story that Szabo is Satoshi Nakamoto, the guy behind the crypto-
currency movement.
Szabo wanted to improve the functionality to make it more straightforward and fast for
electronic transaction techniques such as POS.
4

5. Copyright © Blockchain Council www.blockchain-council.org
A smart contract is made up of various components:
Signatories- These are the parties who are interested in the smart contract
signing process. They determine the conditions and then through digital
signature, provide a final step forward with regard to the proposed terms.
Topic- The subject is confined to the contracts only.
Specific words- These are comprehensive mathematical terms and programming
language applied that is consistent with the Blockchain of the smart contract. It is
based on these unique circumstances that the contract is executed.
5
Main components in smart contracts:

6. Copyright © Blockchain Council www.blockchain-council.org
The use of smart contracts is not limited to only one field; in fields such as the supply
chain, banking, real estate, education, and others a multitude of use cases are found.
Blockchain developers with experience in smart contract development have a promising
future. Via opting for certification courses in the same domain, one can also learn about
smart contract formation. The Blockchain Council provides those who want to have a
career in this area with the right learning platform. You can interact with the Blockchain
Council today for more information.
6

7. Copyright © Blockchain Council www.blockchain-council.org
Blockchain and smart contracts are some of the latest innovations in technology
that have the potential to change business operations fully. They will streamline
the processes, and at the same time, improve efficiency by reducing the time.
Therefore by opting for a certification course in this area, any person who holds
expertise in this profile can surely take up their career graph.
7
The road ahead:

8. Copyright © Blockchain Council www.blockchain-council.org
Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
8

9. THANK YOU!
Any questions?
You can mail us at
hello@blockchain-council.org
Copyright © Blockchain Council www.blockchain-council.org 9