Smart contracts are self-executing code on a blockchain that allow for trustless interaction between network participants.

They are highly customizable and serve to reduce the need for intermediaries and arbitrators. This reduces costs associated with interaction and minimizes the possibility of fraud, accidental loss or malicious behavior by one or more participants in a transaction.

In the case of Analog, our smart contracts serve as a means to reward submission of desired time data through the escrow and release of ANLOG tokens bound to completion of specified milestones.