Survey on blockchain based smart contracts: Applications, opportunities and challenges

Abstract Blockchain is one of the disruptive technical innovation in the recent computing paradigm. Many applications already notoriously hard and complex are fortunate to ameliorate the service with the blessings of blockchain and smart contracts. The decentralized and autonomous execution with in-built transparency of blockchain based smart contracts revolutionize most of the applications with optimum and effective functionality. The paper explores the significant applications which already benefited from the smart contracts. We also highlight the future potential of the blockchain based smart contracts in these applications perspective.