Understanding the Basics of Smart Contracts

[Knowledge Quest]

Smart contracts are a type of computer protocol that allow people to digitally and securely transfer and store information. They are a form of digital ledger technology that is used to record and execute agreements between two or more parties without the need for a third party. Smart contracts are self-executing, meaning that once a certain set of criteria is met, the contract automatically executes the agreement without any manual intervention. They are also immutable, meaning that the terms and conditions of the contract cannot be altered unless both parties agree to do so. Smart contracts are used in a variety of industries, from finance to healthcare, and can help streamline and secure many transactions.

 

[Magnus2022]

Smart contract is quite illuminating and brilliant. It makes contracts difficult to manipulate. Thank God for bitcoin team that played a significant role in modifying and consolidating on the technology. I am looking forward to days when smart contract will be used in all the sectors of human development. Smart contract is automation at it's best. This is to my understanding, the beginning of total decentralization of business engagements.

 

[Niyi Briggs]

I don't know what smart contracts are. I have tried to read and read, I couldn't figure anything out. Please expatiate.

 

[Suba]

Smart contracts run on the blockchain network, are decentralized, without third parties, you can even add multi-sig components, before contracts are approved or funds are transferred. The way it works is very easy, you only need to enter the required amount of crypto (Ether) in a contract, escrow and other documents. And the smart contract will work.

 

[RicAngelo]

Smart contracts run on the blockchain network, are decentralized, without third parties, you can even add multi-sig components, before contracts are approved or funds are transferred. The way it works is very easy, you only need to enter the required amount of crypto (Ether) in a contract, escrow and other documents. And the smart contract will work.

Wow, thats amazing, i just knew it. Technology make our daily life and work life more easier. So, are you work in one of the industry that used it? Or you running a company that used it? Thanks you for the details

 

[Shavkat]

I do not like the idea of storing my personal information on this site. I am scared that security issues will be the outcome of doing it.

 

[RicAngelo]

I do not like the idea of storing my personal information on this site. I am scared that security issues will be the outcome of doing it.

Nowdays, we have share that personal information, right? From bank account, credit card, and others platform that requires personal information. Our job is easy, find the trusted ones, and we can find the information wether they apps legit or not. CMIIW

 

[Suba]

Wow, thats amazing, i just knew it. Technology make our daily life and work life more easier. So, are you work in one of the industry that used it? Or you running a company that used it? Thanks you for the details

I don't work in one of the industries that uses smart contracts, and I also don't run a company that uses it. but i just learn from various forum sites.

 

[puroypoi]

It is astonishing to know, how far technology have gone throughout the years... Though it is a bit quite hard to understand all these new terms, I guess we are heading to a more sophisticated future.

 

[RicAngelo]

I don't work in one of the industries that uses smart contracts, and I also don't run a company that uses it. but i just learn from various forum sites.

I see, we can learn from anywhere, though, but i really admire people like you who willing to learn something new. And nowdays, we have to be like you, eager to learn and never stop learning. So, back to smart contracts, as far as you know, many company in Indonesia use it, right?
I dont work in some industries or company anymore, i have small shop to run everyday. Thank you once again

 

[Suba]

I see, we can learn from anywhere, though, but i really admire people like you who willing to learn something new. And nowdays, we have to be like you, eager to learn and never stop learning. So, back to smart contracts, as far as you know, many company in Indonesia use it, right?
I dont work in some industries or company anymore, i have small shop to run everyday. Thank you once again

Smart contracts can legally be used in Indonesia, but I don't know which companies have used smart contracts because they are rarely published to the public.

 

[RicAngelo]

Smart contracts can legally be used in Indonesia, but I don't know which companies have used smart contracts because they are rarely published to the public.

I see, of course they dont published it to the public, i understand.

 

[uptrendfinancialsignal]

Smart contracts made ethereum blockchain spectacular and outstanding because with smart contract etherium blockchain could be adopted in so many fields of life.

 

[Reedex]

Smart contract is a very good project that is designed on theb lockchain and it has a lot of uses.

 

[flower]

The smart contract is a very good feature that started with the ethereum blockchain.

 

[Reedex]

The smart contract is a very good feature that started with the ethereum blockchain.

The smart contract is associated with the ethereum blockchain.

 

[uptrendfinancialsignal]

The smart contract is associated with the ethereum blockchain.

The smart contract started from this network and it is growing tremendously.

 

[Yohanna]

The smart contract is a very good technology that was adopted into cryptocurrency space.

 

[flower]

The smart contract is a wonderful technology that was created for blockchain to have extra and admirable features.

 

[Bisolami]

I don't know what smart contracts are. I have tried to read and read, I couldn't figure anything out. Please expatiate.

I also could not bring something reasonable out from everything I have always read about it so far