A smart contract, also known as a crypto contract, is a computer program that directly controls the transfer of digital currencies or assets between parties under certain conditions.
A smart contract, also known as a crypto contract, is a computer program that directly controls the transfer of digital currencies or assets between parties under certain conditions.
A smart contract not only defines the rules and penalties around an agreement in the same way that a traditional contract does, but it can also automatically enforce those obligations.
It does this by taking in information as input, assigning value to that input through the rules set out in the contract, and executing the actions required by those contractual clauses – for example, determining whether an asset should go to one person or returned to the other person from whom the asset originated.
These contracts are stored on blockchain technology, a decentralized ledger that also underpins bitcoin and other cryptocurrencies. Blockchain is ideal for storing smart contracts because of the technology’s security and immutability.
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Blockchain is one of the fastest growing sectors in the present. It would not even be too far-fetched if we claim it is as revolutionary as the discovery of World Wide Web, better known as Internet.
Blockchain is a decentralized and distributed digital ledger that records transactions in a secure and transparent manner. It uses cryptography to secure and validate transactions, making it resistant to tampering, fraud, and hacking.
Learn the Fundamentals of Distributed Ledger Technology, Understand the key aspects of Cryptocurrency Market, Apply Blockchain enabled solution to real-time use cases and more.
The technology most likely to change the next decade of business is not the social web, big data, the cloud, robotics, or even artificial intelligence. It’s the blockchain, the technology behind digital currencies like Bitcoin.
NearLearn is proficient and holding years of experience in providing the latest technology courses like Blockchain. We provide the best blockchain training in Bangalore with certification and real-time projects.
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