{"id":20354,"date":"2023-02-17T10:58:46","date_gmt":"2023-02-17T10:58:46","guid":{"rendered":"https:\/\/zebpay.com\/au\/?p=20354"},"modified":"2023-02-17T11:00:29","modified_gmt":"2023-02-17T11:00:29","slug":"difference-between-smart-contract-vs-blockchain","status":"publish","type":"post","link":"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain","title":{"rendered":"Smart Contracts VS Blockchain"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Defining_Smart_Contracts_and_Blockchains\" title=\"Defining Smart Contracts and Blockchains\">Defining Smart Contracts and Blockchains<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#What_are_Blockchains\" title=\"What are Blockchains?\">What are Blockchains?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#What_are_Smart_Contracts\" title=\"What are Smart Contracts?\">What are Smart Contracts?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#How_does_Blockchain_Work\" title=\"How does Blockchain Work?\">How does Blockchain Work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Distributed_Ledger_Technology\" title=\"Distributed Ledger Technology\">Distributed Ledger Technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Blockchain_Use_Cases\" title=\"Blockchain Use Cases\">Blockchain Use Cases<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#How_do_Smart_Contracts_Work\" title=\"How do Smart Contracts Work?\">How do Smart Contracts Work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Execution_of_Smart_Contracts\" title=\"Execution of Smart Contracts\">Execution of Smart Contracts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Smart_Contract_Use_Cases\" title=\"Smart Contract Use Cases\">Smart Contract Use Cases<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Comparison_of_Smart_Contracts_and_Blockchain\" title=\"Comparison of Smart Contracts and Blockchain&nbsp;\">Comparison of Smart Contracts and Blockchain&nbsp;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Blockchain_vs_Smart_Contract_Similarities_and_Differences\" title=\"Blockchain vs Smart Contract: Similarities and Differences\">Blockchain vs Smart Contract: Similarities and Differences<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Potential_Impact_of_Smart_Contracts_and_Blockchain\" title=\"Potential Impact of Smart Contracts and Blockchain\">Potential Impact of Smart Contracts and Blockchain<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/zebpay.com\/au\/blog\/difference-between-smart-contract-vs-blockchain\/#Future_Development_and_Advancements_in_Technology\" title=\"Future Development and Advancements in Technology\">Future Development and Advancements in Technology<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>Blockchains are widely considered to be one of the most important innovations in technology today. It has applications from the crypto industry to data storage and even application development. You may have also heard of smart contracts and that they are essential to the functionality of blockchains. But what is the difference between blockchains and smart contracts?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Defining_Smart_Contracts_and_Blockchains\"><\/span>Defining Smart Contracts and Blockchains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_Blockchains\"><\/span>What are Blockchains?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Blockchains are a new way to efficiently store and access data. Also known as distributed ledger technology, blockchains are publicly available records of transactions that can be accessed by anyone, anywhere.&nbsp;<\/p>\n\n\n\n<p>A blockchain is thus a shared ledger of transactions where data cannot be altered or deleted once created. It provides a transparent and accessible method to track information, along with the guarantee that the data available is accurate and has not been changed.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_Smart_Contracts\"><\/span>What are Smart Contracts?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/zebpay.com\/au\/blog\/smart-contracts-on-the-blockchain\" target=\"_blank\" rel=\"noreferrer noopener\">Smart contracts<\/a> can be thought of as software programs on a blockchain. They automatically run when their conditions are met. They can be used by <a href=\"https:\/\/zebpay.com\/au\/blog\/top-3-blockchain-projects-to-know-about\" target=\"_blank\" rel=\"noreferrer noopener\">blockchain projects<\/a> to automate tasks such as agreements and the transfer of assets without the need for a trusted third party.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_Blockchain_Work\"><\/span>How does Blockchain Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Distributed_Ledger_Technology\"><\/span>Distributed Ledger Technology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A key aspect of blockchains is their decentralisation. The database is not stored on one single system. Instead, it is available to any device on the network. All blockchain users can freely access the network and its information.&nbsp;<\/p>\n\n\n\n<p>Blockchains do not process each transaction individually. They are recorded as encrypted \u201cblocks\u201d of data that must be validated by other users before being finalised. Each block\u2019s encryption is based on the block that came before it, thus forming a chain.&nbsp;<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/au\/blog\/on-chain-vs-off-chain\" target=\"_blank\" rel=\"noreferrer noopener\">On-Chain vs Off-Chain<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Blockchain_Use_Cases\"><\/span>Blockchain Use Cases<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the most popular uses for blockchains is crypto. Crypto tokens are a form of digital asset. They are powered by the blockchain as this is what allows crypto transactions to be recorded and validated.&nbsp;<\/p>\n\n\n\n<p>Alternatively, blockchains can also be used for secure data storage by companies. In this situation, companies can operate a private blockchain where data is stored across multiple different computers and locations. Access to the network can be restricted to authorized users, ensuring sensitive information is kept private.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_do_Smart_Contracts_Work\"><\/span>How do Smart Contracts Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Execution_of_Smart_Contracts\"><\/span>Execution of Smart Contracts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As mentioned above, smart contracts are sets of code that execute automatically when the requirements are met. To create a smart contract, you must have some programming experience. It allows you to undertake more complex tasks on a blockchain than simple token exchanges.&nbsp;<\/p>\n\n\n\n<p>Smart contracts eliminate the need for lengthy verification and paperwork to be completed. There is no need for a third party to conduct these processes as the blockchain can automatically ensure the contract is honoured by all parties involved.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Smart_Contract_Use_Cases\"><\/span>Smart Contract Use Cases<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Smart contracts are mostly used in decentralized application (<a href=\"https:\/\/zebpay.com\/au\/blog\/everything-you-need-to-know-about-dapps\" target=\"_blank\" rel=\"noreferrer noopener\">dApp<\/a>) development. They can be used to automate payments or validation of ownership on a blockchain. Other applications also include supply chain management, where shipments that do not follow the schedule are automatically flagged for review.&nbsp;<\/p>\n\n\n\n<p>The versatility of smart contracts lends itself to applications across a broad range of industries and requirements.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Comparison_of_Smart_Contracts_and_Blockchain\"><\/span>Comparison of Smart Contracts and Blockchain&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"384\" src=\"https:\/\/zebpay.com\/au\/wp-content\/uploads\/2023\/02\/Comparison-of-Smart-Contracts-and-Blockchain-1024x384.jpg\" alt=\"Comparison of Smart Contracts and Blockchain\" class=\"wp-image-20365\" srcset=\"https:\/\/zebpay.com\/au\/wp-content\/uploads\/2023\/02\/Comparison-of-Smart-Contracts-and-Blockchain-1024x384.jpg 1024w, https:\/\/zebpay.com\/au\/wp-content\/uploads\/2023\/02\/Comparison-of-Smart-Contracts-and-Blockchain-300x113.jpg 300w, https:\/\/zebpay.com\/au\/wp-content\/uploads\/2023\/02\/Comparison-of-Smart-Contracts-and-Blockchain-768x288.jpg 768w, https:\/\/zebpay.com\/au\/wp-content\/uploads\/2023\/02\/Comparison-of-Smart-Contracts-and-Blockchain.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Blockchain_vs_Smart_Contract_Similarities_and_Differences\"><\/span>Blockchain vs Smart Contract: Similarities and Differences<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Similarities&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Wide Applications<\/strong> &#8211; Both blockchains and smart contracts are highly versatile tools. They can be applied to a range of industries like finance, supply chains, music and movies and even medicine.<\/li>\n\n\n\n<li><strong>Decentralised<\/strong> &#8211; Both technologies operate on a decentralised basis and do not require a central authority. This makes them highly efficient and eliminates middlemen from the equation.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>On the other hand, their differences include<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Dependence<\/strong> &#8211; Blockchains are independent networks, while smart contracts are built on top of a blockchain. A smart contract is thus dependent on a blockchain.&nbsp;<\/li>\n\n\n\n<li><strong>Ease of Use<\/strong> &#8211; It is easy to get started on using a blockchain. All you need is a crypto wallet and some tokens you wish to transfer. Meanwhile, smart contracts are more advanced features that may require more familiarity with the ecosystem.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Potential_Impact_of_Smart_Contracts_and_Blockchain\"><\/span>Potential Impact of Smart Contracts and Blockchain<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>These technologies have already established themselves as disruptors in both the tech and finance spheres. A blockchain provides transparent and verifiable access to data while smart contracts eliminate middlemen and make systems far more efficient.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Future_Development_and_Advancements_in_Technology\"><\/span>Future Development and Advancements in Technology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As the crypto industry receives more attention and engagement, so do the underlying technologies of blockchains and smart contracts. Fresh investment over the next few years will lead to improvements in scalability and the adoption of smart contracts in other applications too.&nbsp;<\/p>\n\n\n\n<p>You can keep yourself up to date with the latest crypto news on <a href=\"https:\/\/zebpay.com\/au\/blog\" target=\"_blank\" rel=\"noreferrer noopener\">ZebPay blogs<\/a>. Begin your crypto trading journey today using&nbsp;ZebPay Australia.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/connect.zebpay.com\/account\/UserRegistration?returnUrl=%2FAccount%2FCampaignRegister\" target=\"_blank\" rel=\"noreferrer noopener\">trade now<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchains are widely considered to be one of the most important innovations in technology today. It has applications from the crypto industry to data storage and even application development. You may have also heard of smart contracts and that they are essential to the functionality of blockchains. But what is the difference between blockchains and [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":20366,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[14],"tags":[16],"class_list":["post-20354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-crypto"],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/comments?post=20354"}],"version-history":[{"count":3,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20354\/revisions"}],"predecessor-version":[{"id":20370,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20354\/revisions\/20370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media\/20366"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media?parent=20354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/categories?post=20354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/tags?post=20354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}