SMART CONTRACT

Hello steemians, you are welcome to my post. In this post, I will be discussing on “smart contract”. I'm very sure many of us are very familiar with that word “smart contract”.

_{image source}

The fact that dApps cannot be closed in any way makes them very special. Once they join a Blockchain framework, dApps will never disappear. This is because dApps use brilliant agreements, also known as smart contracts or ledgers, which automatically digitally record all transactions on the dApps without the need for human intervention.

Not the slightest bit like Concentrated Applications, which really should be obliged by individuals, they need authorities, for instance, Client assistance, Tellers, Representatives, etc. The speed and required exchange fees will be quicker and less expensive because dApps will not require an outsider to control all exchanges.

When we make a transaction with another person, there will be a few steps that we need to go through if we look at the contract system framework that is typically used today.

If we use Smart Contracts to make a transaction, all we have to do is send our money to a dApp that suddenly has a lot of demand for a blockchain. After that, the exchange will be approved using the Blockchain system. After the exchange is approved, it will be recorded on the smart contract, and the money will go straight to the expected wallet. This whole process only takes a few seconds.

Thanks for reading