Header & Digital ledger

Bitcoins & Input

Transactions & Bitcoins

Header & Transaction

They are not transparent

They are not secure

They cannot handle complex contracts

They cannot account for unexpected events or conditions

Tracking the movement of goods in a supply chain

Storing confidential medical records

Hosting a website

Creating a social media profile

To execute the terms of the contract

To store data related to the contract

To provide external data to the contract

To verify the identity of the parties involved

It is executed by a human agent

It can be modified after it is deployed

It is transparent and accessible to all parties involved

It is stored on a central server

A program that executes automatically when certain conditions are met

A digital signature used to secure transactions

A digital ledger that records transactions

A digital currency used to buy and sell goods and services

A wallet that can only be accessed by a single party

A wallet that requires multiple signatures to access

A wallet that requires manual approval to access

A wallet that is not compatible with smart contracts

They are more expensive than traditional financial transactions

They require fewer legal documents and intermediaries

They are less secure than traditional financial transactions

They are not transparent

They are more difficult to enforce than traditional contracts

They are more flexible than traditional contracts

They are more expensive to create than traditional contracts

They are more vulnerable to hacking than traditional contracts

They are less disruptive to the network than soft forks

They can lead to a split in the network and a loss of consensus

They enable significant changes to the network's rules or protocol

They ensure that all nodes in the network must update to the new version