smart contracts
Smart contracts

Introduction of smart contracts?

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Published on 6/22/2022 by Aurpaytech
Smart contracts

Simple answer: smart contracts are not smart!

Simple reason:

Although it is called a Smart Contract, it should be regarded as “determinism,” After the trigger condition is reached, it will automatically execute the contract that cannot be tampered with.

However, in real life, various reasons such as contract cancellation and invalidation may occur. In this case, the smart contract itself may not deal with it because it only runs strictly following the programmed code.




# To Dig Into More Details. Let’s Do This My 3w1h Way!


1. What

“Smart contract” is a set of promises in digital form within which the parties perform on these promises by Nick Szabo. So the simple answer: it is code. by the way, he might be Satoshi Nakamoto:)


2. Who to compare with?

Of course, traditional contracts


3. Where to use?

Well, in various mediums and purposes, for example, automated cross-border online payment systems, financial data recording, supply chain management, etc.


4. How?

Few steps, using Ethereum as example

* Write code with your logic using either Solidity or Vyper, smart contract language ( Smart contract languages  | )

* Compile and deploy using Ethereum’s virtual machine.

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