Tag: smart contracts

Smart Contracts - what they are?

Smart contracts are another step in the development of blockchain technology. It consists in moving from a traditional financial transaction protocol to a universal tool that will fully automatically implement the terms of the contracts. This minimizes the risk of error or manipulation. Contracts provided in this way ensure simplicity, speed of execution and real-time data update. In this aspect, standard methods have no chance of smart contracts. Moreover, their use excludes the need for intermediaries and various types of central institutions through which the contract must pass. But what exactly are smart contracts? You will learn this from this article!