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The smart contract itself is a computerized transaction protocol [12] that executes the terms of a contract.
As a concept, Smart Contracts was first introduced by Nick Szabo in 1994, who defined it as a "computerized transaction protocol that executes the terms of a contract".
Next, an open scripting system would be used to create a purpose-built transaction protocol.
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The latter, is the perspective addressing the synchronization among distributed services: distributed transaction protocols.
Distributed transaction protocols are evolving according to the requirements of the real e-business scenario over the Web.
Today, vendors of e-commerce systems have relied solely on secure transaction protocols such as SSL, while ignoring the security of server and client software.
In this sub-section, we describe an authorization and transaction management protocol which provides the session key and data access tokens for each authorized user.
Six months later, regulatory oversight around financial transaction security protocols changed.
This approach is similar to ours in the sense that it allows the concurrent execution of transactions, although our protocol allows the execution of transactions at any replica.
Rather, it is a commercial transaction with a protocol planned long in advance.
We also propose a new Web services Transaction Dependency management Protocol (WTDP).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com