The smart contract will be executed automatically once a condition is met. Because smart contracts are digital workflow on chain, therefore merchants have no paperwork to fill, no reconciling errors.
The encrypted transaction records are shared across between merchant and platform, there’s no need to question whether information has been changed for personal benefit.
Blockchain transaction records are encrypted and nearly impossible to hack, hackers would need to alter entire blockchain to change a single record since each record is connected to the previous and subsequent records on a distributed ledger.
Smart contracts remove the need for intermediaries to deal with transactions, therefore, it would eliminate the associated time delays and reduce gas consumption significantly by 96%.
Aurpay uses smart contracts on blockchain to quickly manage payments and settlements from your customers, once you deploy a smart contract on chain, all funds will send to the smart contract with self-enforcing agreements. So, smart contract is the safest way to store crypto, merchants can build stronger relationships with partners and customers. A smart contract’s terms are executed as code running on ETHEREUM which enables blockchain security, reliability, and accessibility.
Gas is the metering unit for use of the World Computer. As an analogy, power is metered by kilowatt hours. Using more storage and computation in Ethereal means that more gas is used.
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