Blockchain technology: Smart contracts are based on blockchain technology. Blockchain is a distributed database that records linked blocks of transactions and information. Smart contracts are stored on the blockchain and executed on the blockchain nodes. The decentralization of blockchain ensures the transparency and security of the contract.
Programming language: Smart contracts are usually written in a specific programming language. Ethereum is the most commonly used intelligent contract platform, which uses Solidity programming language. Other platforms may use different programming languages, for example, Hyperledger Fabric uses Go and Java.
Hash algorithm: Smart contracts use hash algorithm to ensure the security and consistency of data. Hash algorithm converts the input data into a fixed-length hash value, which is irreversible. On the blockchain, hash algorithm is used to verify the integrity of transactions and blocks.
Encryption technology: Smart contracts are executed on the blockchain, so it is necessary to protect the confidentiality of contracts and data. Encryption technology is used to encrypt contracts and data to ensure that only contract participants can view and execute contracts.
Digital signature: the execution of smart contracts needs to verify the legitimacy of transactions. Digital signature is an encryption technology, which is used to verify the identity of the sender of the transaction and the authenticity of the transaction, and to prevent tampering and forgery.
* * * Knowledge mechanism: The implementation of smart contracts on the blockchain requires * * * knowledge mechanism to ensure that all nodes in the blockchain network agree on the contract execution results. Different blockchain platforms may adopt different * * * identification algorithms. For example, Ethereum uses proof of work (POW) * * identification algorithm, while other platforms may use proof of interest (PoS) or other * * * identification mechanisms.
By using these key technologies, the intelligent contract realizes the characteristics of automatic execution and self-execution, and does not depend on the third party organization, thus ensuring the transparency, security and reliability of the contract. With the continuous development of blockchain technology, smart contracts will play a role in more fields, such as finance, supply chain management, and Internet of Things. , bringing more efficient, safe and reliable trading methods to all walks of life.