Smart contracts are the primary source for a decentralized application to run without the governance of a human or any third party applications. Without smart contracts, the concept of decentralization will not be fulfilled in a fully developed blockchain application. Apart from this, smart contracts can help us to achieve the following things with a blockchain dapp.
- Can bring trust among the users
- Once deployed the it can’t be changed
- Smart contracts keep records in blockchain, and the blockchain technology exists forever, so there are no chances for data loss.
- Reduces the scam ratio, since the system becomes an decentralized blockchain ecosystem under smart contract.
- Automates everything inside an blockchain applications
- Can Hold funds
- Can be used in any kind of blockchain application, like future trading,
- For developers it is easy to code and implement.
- Ethereum Virtual Machine Has all the library files to create customized smart contracts
- Highly Immutable
- Provides better and fast performance than any other blockchain smart contracts.
- Helps to create reliable smart contracts based blockchain applications.
And more.
Reference: A Complete Guide To Start Crypto MLM Platform With Ethereum Smart Cont