Hope all is well and well by the infinite mercy of the Creator. At the same time you are having a good time with your loved ones. I am also good Alhamdulillah. Today I have come up with a content with you. Where I am sharing the benifts of Smart Contract. I hope you like it. The last few days I briefly discussed Smart Contact. Smart contacts are very popular nowadays. Smart contacts carry very important meaning especially when we make peer-to-peer transfers. Today I am discussing the benifts of Smart Contract

Brief discussion on Smart Contract

A smart contract is a digital contract stored in a blockchain where the preconditions are met and automatically executed. When we sell P2P, we usually send tokens in smart contact and then the sales executing code is sent to us by the buyer and ours to the buyer. As a result, even if no one knows, the transaction can be completed smoothly.

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Benifts of Smart Contract

The benefits of smart contact are many. Smart contact secondary work is done automatically through self-executing code once every paperless transaction meets the predefined condition. Since it is digitized and automated it is very important at present. Below are some of the benefits discussed in the form of points.

• Since it is digitized, there is no need for a third party. Here, during each transaction, the selfie executing code is sent to both the transactions. So no third party is required here. Information cannot be changed here for personal reasons. Here the encrypted report involved in the transaction is sent to all participants so it is very secure and transparent.

• As a result of smart contact, every transaction is completed very quickly without any hassle of third party. Here the tendency to waste extra time is eliminated. Moreover, the fee for each transaction is much lower here.

• This makes every transaction very secure. We all know that every transaction in the blockchain is encrypted and previous and subsequent information is ledger distributed. So the information here is very secure. So hackers can't hack.

• Once the smart contacts are published in the blockchain during the transaction, it is not possible to add or subtract their information later. As a result, no one can match the data, so each history is much safer.

Thanks and Much Love And Best Wishes To All

I am Md. Kawsar Hasan. I am a Bangladeshi. I feel very comfortable to introduce myself as a Bangladeshi. An assistant teacher by profession. A writer intoxicated. So I feel very comfortable writing content on different topics. It’s great to know the unknown and learn something new. Love to travel.
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