A blockchain is a shared ledger whose data is distributed via peer-to-peer technology. The data is presented in "blocks" and secured with cryptography. For a new block to be attached, there must be consensus between all parties involved.

Blockchain provides:

✔ Trust, where trust was unproven;
✔ Security, through the consensus of all the parties involved;
✔ Immutability, once something is on the blockchain, it cannot be undone;

​​Smart contracts are contracts whose terms are encoded in computer language instead of legal language. Smart contracts can be executed by a computing network such as RSK, so that the terms of the contracts are automatically enforced by a protocol that all nodes in the network follow.