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Smart-contracts Ethereum

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Blockchain technology has given the world a new format for relationships in legal aspects. For example, the Ethereum platform (Ethereum) makes it possible to independently create a legal framework for doing business.

In 2013, a group of developers in Canada created a new blockchain-based technology: Ethereum. Its creator, Vitalik Buterin, introduced a new concept into the blockchain procedure.

He came up with the idea that the digital signatures of each block will be formed not by the system devices themselves, but by special Smart Contracts. It is Smart Contracts that will govern the implementation of all agreements on both sides when concluding any transaction.

In other words, now, in order to make, for example, a money transfer, no intermediaries are needed: the entire operation will take place within the system immediately when the contract is fulfilled. And the exclusion of additional parties from the chain of settlements will significantly simplify and reduce the cost of the process.
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