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Smart contract

Abbreviation(s) and Synonym(s):

None

Definition(s):

  A collection of code and data (sometimes referred to as functions and state) that is deployed using cryptographically signed transactions on the blockchain network. The smart contract is executed by nodes within the blockchain network; all nodes must derive the same results for the execution, and the results of execution are recorded on the blockchain.
Source(s):
NISTIR 8202