Executed State
The executed state is a permanent and final state of any Zenland contract. The contract remains executed indefinitely in the blockchain database.
In order for the contract state to change to executed one, the agreed amount (funds) must be released from the contract to the wallet address(es) specified in its terms.
Usually, the release is done by the Contractee (buyer) satisfied with the product/service delivered by the Contractor (seller). In certain circumstances, the funds are released either by the Contractor or the Agent.
Important!
The executed state of the contract indicates that it is been finalized, and no action has to be taken by the parties. At this point, the Zenland contract, a smart program run on the blockchain, has read and run all its instructions (functions) written in code, a.i. has executed the code.
There are no further contract actions left for parties to take. Thus, the best metaphor for this state of the contract can be an "archived" state.
Like the real-life formal contracts, all Zenland contracts are stored on the shelves (blocks) of the database (blockchain). The only difference is that no contract is ever discarded and can be found for as long as the blockchain exists.
Important!
Executed contracts cannot be disputed, altered, or influenced in any way. These are the blockchain rules that all smart contracts follow.
For more information on the blockchain and smart contracts refer to the "Getting Started" section.
Last modified 1yr ago