Blockchain: Smart Contract How it Works
The smart contract in Blockchain is a software application that works without human intervention. Here I have shared the Smart Contract backend process. Smart Contract Mechanism. 1. What is Smart Contract A smart contract is a protocol that can auto-execute, facilitate, verify, or enforce the negotiation of a contract. Agreement between two parties you can say as a contract. Incorporating the rules of the physical contract into the computing world, you can say as a smart contract Blockchain supports you to create smart contracts. Smart Contracts are self-executing programs that run on the blockchain and are capable of enforcing rules Using Blockchain as a platform and making an agreement or contract between more than two parties, you can say as Smart Contract. 2. Traditional Markets 3. Top Benefits of Smart Contract Currently, smart contracts are being used only in Crypto Currencies Now Smart Contracts being used in all financial transactions A smart contract ca