Smart Contracts

  • These 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.
  • They can also automate a workflow, triggering the next action when conditions are met.
  • A smart contract failure can cause platform outages, and exploitation of the codes could devalue the entire ....
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