What is Smart Contract?
A smart contract, also known as a cryptocontract, is a computer program that directly controls the transfer of digital currencies or assets between parties under certain conditions. A smart contract not only defines the rules and penalties around an agreement in the same way that a traditional contract does, but it can also automatically enforce those obligations. It does this by taking in information as input, assigning value to that input through the rules set out in the contract, and executing the actions required by those contractual clauses - for AOG, determining that the game has been played and a pre-determined score has been reached to release calculated tokens to the beneficiary charity based upon the choice of the player is all calculated by the Smart Contract.
This contract is stored on the Blockchain, a decentralized ledger that also underpins bitcoin and other cryptocurrencies. Blockchain is ideal for storing smart contracts because of the technology's security and immutability.