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_Smart Contract

A smart contract is a self-executing contract with the terms of the agreement between buyer and seller directly written into lines of code.

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_Smart Contract

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  1. Smart Contract A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code.

  2. How Smart Contract Works Pre-defined Contract Events Execution Settlement

  3. Uses of Smart Contracts 1. Government voting system 2. Healthcare 3. Supply chain 4. Financial services

  4. Benefits of Smart Contracts 1. Autonomy and savings Smart contracts do not require brokers or other middlemen to confirm the agreement, eliminating the possibility of third- party manipulation. Furthermore, the lack of an intermediary in smart contracts results in cost reductions.

  5. 2. Backup All the documents stored on blockchain are duplicated multiple times; thus, originals can be restored in the event of any data loss. 3. Safety Smart contracts are encrypted, and cryptography keeps all the documents safe from infiltration.

  6. 4. Speed Smart contracts automate tasks by using computer protocols, processes. saving hours of various business 5. Accuracy Using smart contracts results in the elimination of errors that occur due to manual filling of numerous forms.

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