Meaning of smart contract and how it was invented

Some of you are into cryptocurrencies but don’t have basic knowledge in what is a smart contract. Now read work with me.

What is a smart contract?.
Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss…

How was it invented ?

The idea was proposed in the 1990s by Nick Szabo, a pioneer of modern computer science, who defined them as a set of virtual promises with associated protocols to enforce them.

thanks for good info

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