Smart Contracts Explained
Smart Contracts is the blockchain innovation that may removed and replace lawyers. You can trade money, real estate, shares, or everything of value in a transparent, conflict-free way, while eliminating the servicings of a middle man.
This specific infographic presents you clear and simple description.
Infographic source: Pinterest
And with upcoming Blockchain platforms, the speed of transactions will be much higher than current ones...
Just a few data:
Credit cards- 20,000 transactions per sec
Google, Facebook- 50,000 likes per sec
Stock market- 100,000 trades per sec
EOS, a new blockchain platform under development has promised to provide a speed of nearly 1 Million transactions per sec. Secondly, it will smart contract friendly like Ethereum.