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Day 20 of 31 days crypto/defi terminologies
Smart contract
A Defi protocol can only be said to be complete when there is a smart contract deployment.
What really are smart contracts?
A short thread🧵
Smart contract
A Defi protocol can only be said to be complete when there is a smart contract deployment.
What really are smart contracts?
A short thread🧵
Smart contracts are tools that can automatically execute transactions if certain conditions are met without requiring the help of an intermediary company or entity.
What the smart contract does is cut that central body of authority.
What the smart contract does is cut that central body of authority.
It is more like the reason why decentralization is possible.
Whether it is obvious or not, intermediaries permeate our digital lives.
Even simply sharing a picture with friends online requires the services of an intermediary like Facebook or Twitter. .
Whether it is obvious or not, intermediaries permeate our digital lives.
Even simply sharing a picture with friends online requires the services of an intermediary like Facebook or Twitter. .
