The Importance of Smart Contracts: An In-depth Analysis

Turing completeness is the ability of any system to stimulate other Turing complete machines. Simply put, a stimulation, when configured with specific instructions, could function on its own without outside/external interference. Qixcoin was the first cryptocurrency to feature in its source code a Turing complete mechanism. The mechanism allowed for the continuous embedding of verification that could function without third-party arbitration. It didn't take long for this innovation to pick up. Vitalik Buterin described a derivative of this mechanism that…