Through Wixlar Wallets, our users are able to create their own tokens, assets or shares through Wixlar Smart Contracts in order to take their business to the next level through Wixlar Block-chain Technology.
History of Smart Contract
Smart contracts were first proposed by Nick Szabo in 1994 which are computer protocols intended to facilitate, verify, or even enforce the negotiation or performance of a contract in the blockchain. Szabo proposes that smart contract infrastructure can be implemented by replicated asset registries and contract execution using cryptographic hash chains and Byzantine fault tolerant replication.
The aim of smart contracts is to provide security that is superior to traditional contract and to reduce other transaction costs associated with contracting. The key difference with smart contracts is that it is a decentralized system accessible to anyone, that doesn’t require any intermediary party, and in addition minimizing the counterparty risk, reducing settlement times, and increasing transparency.