Hello everyone, today I will explain to you the development knowledge of seconds contract and smart contract, thank you for watching
[This article is organized and published by mkz888z, please feel free to communicate! 】
This also proves that the digital asset market is not as depressed as imagined. At present, there are not a few exchanges that provide futures contracts in the digital asset market, not to mention that the newly launched perpetual contract system has also been hotly discussed. Everyone in the digital asset market knows that the current digital asset market has diverse product game methods. , A lot of products are piled up in front of us, and there are countless exchanges developed by digital asset trading platforms with futures contracts.
Smart contract is a new technology brought by the public blockchain, because it partially confuses the core interactions described, so this term is difficult to understand. Smart contracts help to achieve a decentralized system. It exists between all allowed parties and does not require middlemen. It can save you time and energy. Although the blockchain has its own problems, because of its high efficiency, it is undeniable that it is faster, cheaper, and more secure than traditional systems, so banks and governments have begun to understand and use it.
What is a smart contract?
Smart contract, also known as encrypted contract, is a computer program that can directly control the transfer of digital currency or assets between parties under certain conditions. Smart contracts not only define the rules and penalties of the agreement in the same way as traditional contracts, but they can also automatically enforce these obligations. It accepts information as input, assigns values to the input through rules, and lists and executes the actions required by these contract terms in the contract-for example, determining whether the asset should be returned to one person or to another person from whom the asset originated. This concept is easy to explain with an example. Imagine life insurance, a smart contract that pays benefits to a designated beneficiary after the death of the policyholder. The contract can check the online death registration form in real time to determine the time of payment. Smart contracts are unreliable, autonomous, and self-sufficient.
What is the use of smart contracts?
In the blockchain society, everyone jointly maintains a blockchain ledger. All transaction data cannot be tampered with and cannot be forged. It can also reduce the error probability and labor cost of manual reconciliation. With the popularization of smart contracts, we will become more Buddhism. In the face of potential disputes, you don't need to go out on your own, all the code has the final say.
If you buy delay insurance by plane, it becomes much easier to settle claims. Insured passenger information, flight delay insurance and real-time flight status are all stored on the blockchain in the form of smart contracts. Once the flight delay meets the compensation standard, the compensation will be automatically credited to the insured passenger's account. The policy processing is very efficient, and you don't need to talk to the staff and argue about the time of compensation. This article is organized and published by mkz888z, please feel free to communicate!