Smart contracts: Difference between revisions

Revision as of 03:42, 4 April 2022

Quick take - Smart contracts

Smart contracts are tamper-proof programs on blockchains that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y".^[1]

“Smart contracts are digital agreements that exist as an immutable software program on the blockchain with conditions attached to its execution.” - (Source: What Is a Smart Contract? (https://chain.link/education/smart-contracts))

Overview

it is estimated that over 80% of smart contract use cases require real-world and external events data. Fortunately, oracles allow blockchains to communicate bidirectionally with the real world.

Need source.

Use cases

Decentralized Finance
External Payments
NFTs, Gaming, and Randomness
Insurance
Enterprise Systems
Supply Chain
Utilities
Authorization and Identity
Government
Sustainability
Off-Chain Computation

https://blog.chain.link/44-ways-to-enhance-your-smart-contract-with-chainlink/

Resources

↑ https://chain.link/education/web3

[1] ttps://chain.link/education/web3

[1]

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	{{:box-round\|title=Quick take - Smart contracts\|<big>~~“Smart~~ contracts are tamper-proof programs on [[Glossary#blockchains\|blockchains]] that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y.<ref>https://chain.link/education/web3</ref></big>}}		{{:box-round\|title=Quick take - Smart contracts\|<big>Smart contracts are tamper-proof programs on [[Glossary#blockchains\|blockchains]] that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y".<ref>https://chain.link/education/web3</ref></big>}}
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