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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