Smart contracts
From Chainlink Community Wiki
Quick take - Smart contracts
Programmable, blockchain-based code agreements.
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))
In depth
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.
Smart contract risk
The code quality of smart contracts is dependent on the skill level and experience of team that developed it. Smart contract bugs, hacks, vulnerabilities, and exploits can occur, leaving users susceptible to loss of funds. Smart contract developers can mitigate this risk through security audits, peer-reviewed code, and sound testing practices.
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/
Timeline
Smart Contract Resources
Our goal with the Wiki resource lists is to create authoritative archives for readings and other resources pertaining to specific topics.
As such, the Wiki aims to keep all resource lists current, consistent, accurate and clear.
Timeline
| Date | Media | Author | Title |
|---|
Educational
| Date | Media | Author | Title |
|---|---|---|---|
| N/A | Official Docs | Chainlink | What Is a Smart Contract? |
| 08 Fe 22 | Article | Chainlink | What Are Cross-Chain Smart Contracts? |