All About Smart Contract Development That You Need To Know
Blockchain has already taken significant steps towards eleminating the middlemen when it comes to currency exchange. Taking advantage of the distributed ledger system, blockchain has changed the online banking and money transferring scenario. However, there is another technology based on blockchain that is pushing the boundaries removal of middlemen, and that is smart contract. Smart contracts are something really simple. Blockchain-based contracts are digital contracts, which means all the terms of agreements are written within the lines of codes. These contracts are also self-executing, which means when the terms of this contract are met, the contract will execute itself. It is probably one of the best way of executing business where the transaction of cryptocurrency is involved. There are many three different kinds of smart contracts, Smart legal contracts, Decentralized Autonomous Organizations AKA DAOs, and Application logic contracts or ALCs. all these different kinds of smar...