An Origin Contract is a type of smart contract that allows users to define the terms of a transaction or agreement on a blockchain. It serves as a foundational document for establishing the rules and responsibilities of the parties involved.These contracts are typically used in decentralized applications, ensuring that all conditions are met before any transaction is executed. By leveraging blockchain technology, Origin Contracts provide transparency and security, as the terms are immutable and publicly verifiable.When parties engage in a transaction, the Origin Contract outlines the specifics—such as payment amounts, delivery timelines, and conditions for fulfillment. Once agreed upon, these terms become enforceable by the smart contract, which automatically executes the agreed actions when conditions are met.This mechanism reduces the need for intermediaries, streamlining processes and lowering costs. Origin Contracts enhance trust among participants, as parties can rely on the contract’s execution without requiring third-party oversight.
Bit Digital Acquires 31,057 ETH Through $150M Convertible Notes Offering
Bit Digital Inc. (Nasdaq: BTBT) has purchased 31,057 Ether (ETH) using proceeds from its recently completed $150 million convertible notes