smart_contract

Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They are immutable, transparent, and operate autonomously, reducing the need for intermediaries. Here's a brief overview of what they are and how they work.

Features of Smart Contracts

• Immutable: Once deployed, the contract cannot be altered.
• Transparent: All transactions and agreements are visible on the blockchain.
• Autonomous: The contract automatically executes when predefined conditions are met.
• Trustless: No need for intermediaries, as trust is built into the code.

Common Use Cases

• Financial Transactions: Facilitating secure, transparent, and automated transactions.
• Real Estate: Streamlining the process of buying, selling, or transferring property.
• Supply Chain: Ensuring transparency and traceability in the supply chain.
• Digital Identity: Providing secure, verifiable digital identities.

Smart Contract Example

For more information about smart contracts, you can visit our Smart Contract Basics page.