Algorand Smart Contracts
Algorand Smart Contracts (ASC1) are small programs written in an assembly-like language that can be used as a replacement for signatures within a transaction. The language of Algorand Smart Contracts is named Transaction Execution Approval Langauge or TEAL.
TEAL programs have one primary function and that is to determine whether or not a transaction is approved by analyzing it against its own logic and returning either
false - approved or not approved, respectively. Algorand transactions can be authorized by a signature from a single account or a multisignature account. Smart Contracts allow for a third type of signature using a TEAL program, called a logic signature (LogicSig). Algorand Smart Contracts provide two modes for TEAL logic to operate as a LogicSig, which are discussed in Usage Modes.
Before getting started, it is important to understand that there are several ways to approach learning about Algorand Smart Contracts. At a high-level, learning about Smart Contracts can be separated into learning how to write smart contracts in TEAL and learning how to use smart contracts from either the command line, with
goal, or by calling them from the SDKs.
To compile and use TEAL programs using
goal, see A Contract Walkthrough.
To start working with TEAL with the SDKs, visit the Using the SDKs section.