Study of smart contracts

A smart contract is a consensus between two parties and may be more than two, which is executed by the computer code. The code does the execution without giving either party the ability to take it back, so it ensures the un-trustable execution. The smart contract is one of the most important features in blockchain applications, this makes a trusted transaction without allowing third parties. The smart contract can nr categorize into three types: the smart legal contract, Decentralized autonomous organizations, and Application logic contract. As there are many online platforms to work with a smart contract like Ethereum, Polkadot, and many more. Rapid development in the blockchain smart contract has exposed many security problems and some attacks caused by contract vulnerabilities have led to huge losses. This paper studies smart contracts and their security issues. Also studied about the stability, speed and working of the smart contract. We also learn and described about the different problems faced in the blockchain and way to over come the problems of the smart contract applications