This centralized nature of smart contracts does not change solely because the contract codes are stored in blockchainsĭecentralism comes from the fact that each miner independently validates transactions and determines ownership of assets A smart contract is an agent of the entity. This kind smart contracts are not contracts by legal standardīehind every smart contract is a centralized entity. Present smart contract model does not allow users to express their intentions to miners, miners therefore are unable to verify that the results of executions meet minds of the users, and can only take the results of contract executions as agreement of the parties This is the root cause of crypto asset losses of billions of dollars
Virtually all blockchain smart contracts today are.
