My Own Ideas about Smart Contract

My Own Ideas about Smart Contract

By Crypto Beeporter! | CRYPTO PROJECT | 15 Jan 2020


What is a Smart Contract?

A Smart Contract is a unique computer system that has its own executing computer code design to maintain commercial contracts from beginning to end, Smart Contract is a computer protocol to digitalize all transactions and records all verify codes in the blockchain that is a decentralized chain of blocks stored on different computers.

 

Smart contracts can also be performed depend only on those conditions that were coded, In the simplest form, it's digitalized contract with strictly specified conditions, which is created by certain parties.

 

Blockchain developer designed this unique protocol to minimize trust to different/third parties. Smart Contracts can also allow you to exchange assets such as money that can shares directly without any third parties, transactions are traceable and transparent. You can check but you can't delete it. Since the code is in the public anyone can check anytime. Whenever you have specific functions that are met, it creates an outcome that it is set to and creates what you might know as a transaction hash.

 

Thank you for your reading, please let me know your own thoughts or ideas about Smart Contract by commenting below.

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Crypto Beeporter!
Crypto Beeporter!

Crypto enthusiast. trader and content writer


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