Published 15 October 2018

Classification of smart contracts

Classification of smart contracts

At the moment, smart contracts are classified according to the following key indicators:

  • Smart contracts can differ by a runtime environment that can be centralized or decentralized.
  • They can differ in the process of setting and meeting the conditions: they can be randomly programmable, limited or pre-installed, that is, strongly typed.
  • By the way of initiation, there are automated smart contracts, that is, when certain conditions occur, the code is self-executing, and there are smart contracts in which conditions are set, but the platform does not automatically check them, they must be initiated separately .

In addition, smart contracts differ in terms of privacy. They can be either completely open, either partially or completely confidential. The latter means that third-party observers do not see the conditions and data in the code of smart contracts.

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