3 unique things to know about smart contracts

in cryptocurrency •  3 years ago 
  1. What is a smart contract?
    A smart contract is a programmable contract that allows two counterparties to set conditions of a transaction without needing to trust another third party for execution.

  2. How does it work?

Smart contract works on the “ if this, then that” principle. Whenever a specific condition is fulfilled, the smart contract will carry out the operation as programmed.

  1. Why the smart contract is important?

Multiple smart contracts are combined to operate with each other, known as decentralized applications(defi).

Thank you for reading my article.

Have a nice day.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Your post was upvoted and resteemed on @crypto.defrag