Asslamo-alikum to all of my friends of Steem Alliance Community.Is everything is ok? my friends.Hope mine friends are ok and also doing well and I'm very happy and well and here again for posting.Today's topic for posting about cryptocurrency is the smart contract in the blockchain.It's very important for cryptocurrency and I'm going to share some major points.

Definition:- Smart contract in the blockchain network is a agreement between two or more persons on the blockchain, which is digitalized and the trade has been done very completely after the completion requirements of the smart contract.Smart contact in blockchain has a specific language, and it has been written in this language.These contracts are specific and more efficient than other agreements.

In cryptocurrency, when two people or more than two people want to do any trade, they make an agreement on each other. This agreement has some requirements. If both sign the requirements of these agreements, then it is agreed. Both have a signature, both activate it, and after that, the agreement between the two is called a smart contract.

Explanation:- The smart contract in blockchain technology is a digital agreement like normal local agreements, paper agreement in which two people sign anything they want to exchange, but blockchain is not a paper work.When any work has to be done on the blockchain, any trade has to be done, then a smart contract is used for it. It is a digital agreement in which there are certain conditions.If it is happening, it automatically trades, it is very sharp and good.

Activating a smart contract in a blockchain network means that when any trade is taking place between two people, it is very secure that no one is harmed. The advantage is that if the smart contract is made between two people, then if any of them breaks, the loss will be to him, the other will not close any of his digital assets, they will be returned.A smart contract is like a normal contract but it is digital, it is owned by the key and once it is activated, then its terms have to be fulfilled when any transaction is to be done between two people among themselves.

When there is a smart contract between two people on the blockchain network, first all the terms of the contract are written, then when both agree to it, then all the terms are finalized, then the development of the blockchain is done. After development, it is checked that this smart contract is not something else and the smart contract automatically becomes active and complete.A smart contract is fully monitored on the blockchain, so when it is completed, it is also recorded, all the details of the transaction are recorded.If anyone wants to see tomorrow or any day, they get all the details.

Advantages:- The advantage of smart contract is that two people sitting in any corner of the world can trade with each other through smart contract because it is a very secure way through which people can trade anything.There is no fear that any of ours assets will loose because when this smart contract is done, any trade agreement between the two will be mandatory.Another advantage of smart contract is that two people are sitting anywhere, they don't have to meet each other physically, they can send and receive things to each other by making a smart contract on the blockchain.

One of the major advantages of smart contract is that it is a digital agreement so there is no human intervention in it.It also has the advantage that it does not contain errors, the agreement will be digitally completed safely and there are no chances of damage at all and, it also benefits the blockchain because trust is built and More and more people work through this smart contract.Apart from this, the advantage of smart contract is that all the data of any transaction between two people is recorded on the blockchain and the same data can be checked at any time for any work.

Conclusion:- So friends, that's all about smart contract in blockchain technology.It's a digital agreement between two or more persons on the blockchain for doing any trade among each other.It has so many advantages including security and trust.I hope mine all friends will understand about smart contracts in blockchain technology after reading this post.God Bye!