Smart contracts
From Chainlink Community Wiki
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/