A Survey on Smart Contract Platforms and Features

Abstract

Smart contracts are set of instructions which are stored on a blockchain. These instructions will be executed automatically without middle-man interaction. Smart contracts in the blockchain allows the transactions and contracts to be executed across undesignated nodes without an interaction of central system or external enforcement. The transactions are transparent, traceable and irreversible. In blockchain all the data stored are secure and immutable. So blockchain would be the suitable environment for smart contracts. Smart contract data is encrypted and placed in a distributed ledger, which means the information stored in the blocks cannot be deleted or modified. There are many blockchain platforms supporting smart contracts. This paper explores the information about various smart contract platforms and its features.