BitBay is based in Poland and opened on March 29, 2014. BitBay is a fast and secure cryptocurrency exchange supporting Bitcoin, Litecoin, fiat currencies (PLN, EUR, USD).
The general concept behind Smart Contract technology was first conceived by Mr. Nick Szabo in the mid 1990’s. Since that time, there have been many software engineers, theorists, and cryptographers working diligently to crack to code and find the best way to make this dream a reality. Fast forward 20 years, and individuals such as David Zimbeck, Peter Todd and others have begun to fulfill their dreams. At a basic level, contract security can be based on what programmers would call an “if-then” statement, but instead of taking place in strictly computer software, these statements can resonate into the real world and become completely unbreakable through Satoshi’s Blockchain technology. When BitBay’s pre-programmed conditions are triggered, the smart contract executes the clause and everything appears directly on the Blockchain for the world to see and verify.