An organization governed by smart contracts[1] and decentralized decision-making, operating autonomously on a blockchain[2] or distributed ledger.
Self-executing contracts with the terms of the agreement directly written into code, automatically enforcing the agreed-upon conditions and actions.
An encrypted digital record of transactions. The name comes from its structure, in which individual records, called blocks, are linked together in single list (or chain) using cryptography. Information held on a blockchain exists as a shared and continually reconciled database. Each block is protected with a timestamp and transaction date and link to the previous block.A decentralized and distributed ledger technology that securely records and verifies transactions across multiple computers or nodes, providing transparency, immutability, and trust.
