How Does Smart Contract Work? - PowerPoint PPT Presentation
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How Does Smart Contract Work?
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which smart contracts have to offer, they are surely one of the most sought after professional skills by many individuals. If you, too, are one of them who want to excel in smart contracts, then you must invest in Blockchain expert certification or smart contract certification program offered by Blockchain Council – PowerPoint PPT presentation
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Title: How Does Smart Contract Work?
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Three Unlimited Blockchain Technology Platforms
For Making Money
- So we are back again with one of the renowned
subsets of Blockchain, and that is smart
contracts. When did the world get to know about
this outstanding Contract? Well, it takes us back
to 2018 when Ethereum emerged. Why you need to
know about Ethereum is because smart contracts
are the by-products of Ethereum.
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- The currency also provides a Blockchain platform
for the development of various decentralized
applications. Smart Contract is one of the most
talked-about things which the world is talking
about. Not only has it transformed how does the
industry works, but at the same time, it has
provided a new way to execute transactions.
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What Are Smart Contract?
- Before we head forward to understand how do smart
contracts work, lets have an understanding of
what smart contracts are. - In simple words, smart contracts are the digital
contracts which are pre-programmed to execute the
payment, once the conditions are met.
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- These contracts run on Blockchain and are stored
in a public database, and once entered, they
cannot be changed. These features make smart
contracts a good choice for those who are looking
for a hassle-free agreement execution.
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- How Smart Contracts Work?
- Now lets shift our focus to understand how to do
smart contracts work. The working is quite
simple the two parties decide the terms and
conditions of the agreement. This agreement is
created on Ethereum Blockchain. Once the
conditions are met, the Contract is
pre-programmed to execute the transactions.
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- You must be wondering why Ethereum and not
Bitcoin, when Bitcoin came way ahead of Ethereum,
then you must know that Bitcoin is limited to the
currency use case. On the other hand, Ethereum
replacing Bitcoins more restrictive language
with the ones which allow the developer to write
their own programs. This flexibility makes
Ethereum a much more suitable platform for smart
contract creation.
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- Ethereum enables the developer to program their
own smart contracts. These developers are also
called as autonomous agents.
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- Smart Contracts Can
- 1. They can function as multi-signature
accounts this means that the funds can only be
spent when a required percentage of people agree. - 2. Manages agreement between users
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- 3. Utility to other contracts
- 4. Store information about an application like
membership records etc.
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- With all these features and benefits, smart
contracts become useful for different business
domains and business operations. - Today, there is a growing demand for Blockchain
professionals who can help in successful syncing
of Blockchain with their business model, and this
is inclusive of smart contracts.
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- The Future
- Smart contracts are being used across different
industries like insurance, ICOs, healthcare,
business management, government, real estate,
etc. With the multitude of uses and benefits
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- which smart contracts have to offer, they are
surely one of the most sought after professional
skills by many individuals. If you, too, are one
of them who want to excel in smart contracts,
then you must invest in Blockchain expert
certification or smart contract certification
program offered by Blockchain Council.
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- This exhaustive online learning program has been
designed to cater to the requirements of both the
professionals and freshers. Smart contracts can
delay frauds, delays, and also save money, so
what are you waiting for, join the bandwagon of
being a skilled professional in this field by
pursuing this program by Blockchain Council.
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Blockchain Council Certifications
- You can check out our certifications, and kick
start your career in the Blockchain space today. - Certified Blockchain Expert
- Certified Blockchain Developer
- Certified Smart Contract Developer
- Certified Solidity Developer
- Certified Ethereum Developer
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