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Read moreWhat is a smart contract simple explanation?
Smart contracts defined Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met . They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss.
Read moreIs smart contract a pyramid scheme?
Smart contracts are in some ways an ideal medium for pyramid schemes and other scams . Because they run in decentralized, international computer networks, they lack clear jurisdiction and thus cannot easily be dismantled by law enforcement agencies.
Read moreWhat is the best smart contract platform?
Ethereum : Ethereum is known for being one of the best cryptocurrencies that launched smart contracts on its network.
Read moreWhich blockchain supports smart contracts?
The most popular blockchain for running smart contracts is Ethereum . On Ethereum, smart contracts are typically written in a Turing-complete programming language called Solidity, and compiled into low-level bytecode to be executed by the Ethereum Virtual Machine.
Read moreIs Stellar smart contract platforms?
“Bringing smart contracts to Stellar is not a departure from the values or vision of the network. Since the Stellar network was built for the future of payments, it’s critical that smart contracts on Stellar are secure for users and can scale without exorbitant network fees .”
Read moreWhat are the three major benefits of smart contract?
They are a faster, cheaper, and more secure way of executing and managing agreements . The technical difficulty of making changes and the inability to handle complex transactions are some issues with smart contracts that need to be rectified to gain mass adoption.
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