Smart Contract Execution
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Questions and Answers

What is a smart contract?

  • A legally binding agreement written in computer code
  • A legally binding agreement written in English
  • An agreement written in computer code and stored on a blockchain platform (correct)
  • An agreement written in English and stored on a blockchain platform

    • What happens when the terms of the contract are met?

  • The contract is triggered and the code is executed (correct)
  • The contract is updated and the code is executed
  • The contract is triggered and the funds are transferred
  • The contract is updated and the funds are transferred

    • What is the result of the contract execution?

  • A permanent and verifiable record of the transaction (correct)
  • A private and verifiable record of the transaction
  • A permanent and unverifiable record of the transaction
  • A private and unverifiable record of the transaction

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