What is a smart contract?
Created by: Shani Koren
Modified on: Thu, 17 May, 2018 at 12:54 PM
A smart contract is a self-executing blockchain contract and trustless protocol on the Ethereum Network. Smart contracts are “trustless” transactions - once signed, they may not be altered in any way and will automatically execute the predefined terms of the contract. Investors and companies who participate in an ETO on the Neufund platform sign a smart contract in the form of Equity Tokens. This smart contract defines the exact agreement between the two parties, based on the company’s term sheet (e.g., exit strategies, voting or dividend rights).
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