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[Solved] What Is Smart Contract

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EXERCISE: 

i. What Is Smart Contract?

ii. Summarize in your own word in this forum below:

(NOTE: please, don't just copy past from other student - instead answer in your own word base on your level of understanding the lesson and resources)

 

 

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User Avatar Ademiju Taiwo 24/10/2023 9:40 pm

@foskaay 

Smart contract is a language of money which runs on a Blockchain database or on a decentralized database.

6 Answers
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Smart Contract in summary is a code that run in decentralized databases like the Blockchain.

It is smart because it can execute on its own without direct human or third party influence once deployed.

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Smart contract are code deployed to perform a perticular task in a blochain and they always deal with money and they work on their own without any human interference.

And also once they are deployed they can no longer be changed

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smart contract are set of codes or instruction that can only run in block chain network without anyone controlling it, majorly processing and modifying decentralized data

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Smart contracts are codes that are immutable and relevant to develop programs in a decentralised ecosystem.

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smart contract are set of codes that runs on block chain network by itself in a decentralized database

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A smart contract is code used to perform specific tasks on a blockchain.

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