Polymesh Glossary


Smart contracts

A set of logic rules in the form of coded script which can be embedded into the blockchain and executed automatically to govern processes like transactions. Smart contracts live on-chain and run exactly according to logic rules, enabling the code to mediate agreements and transactions without relying on a central authority. Programmable smart contracts make security tokens truly digital by managing asset attributes and automating functionality. Since smart contracts can create complexity in the end-to-end solution, assets on Polymesh are instead created at the protocol layer.