Whois & Analysis for decenterads.com

A blockchain – originally block chain – is a distributed database that maintains a continuously growing list of ordered records called blocks.

Each block contains a timestamp and a link to a previous block.

By design, blockchains are inherently resistant to modification of the data — once recorded, the data in a block cannot be altered retroactively.

Through the use of a peer-to-peer network and a distributed timestamping server, a blockchain database is managed autonomously.

Blockchains are "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.

The ledger itself can also be programmed to trigger transactions automatically.".

Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract, or that make a contractual clause unnecessary.

Smart contracts often emulate the logic of contractual clauses.

Proponents of smart contracts claim that many kinds of contractual clauses may thus be made partially or fully self-executing, self-enforcing, or both.

Smart contracts aim to provide security superior to traditional contract law and to reduce other transaction costs associated with contracting.