Smart Contract States

Smart Contracts can have different states, depending on the current conditions and actions taken by the involved parties. Regarding Escrow Contracts, they can adopt one of the following states:

• Deployed: Indicates that the contract has been deployed on the blockchain and is ready to be executed.
• Completed: This state is reached when the contract has been successfully executed, and all pre-established conditions have been met.
• Terminated: The contract has ended, either because the terms were fulfilled or for some other reason agreed upon by the parties.
• Disputed: Occurs when one of the parties questions the contract, thus initiating a dispute resolution process.