Ethereum Smart Contracts: How Do They Work?

Smart Contracts

Like many things surrounding the blockchain community, Ethereum’s smart contracts can be a confusing concept to most.

Smart contracts seem a bit difficult to understand because the term confuses the base interaction described. They are a new possibility due to the ethereum public blockchain.

A smart contract binds a relationship with cryptographic code, whereas a standard contract is an outline of the terms of a “relationship” and is usually enforced by law.

To describe them a little more clearly, smart contracts are programs that carry out the exact tasks set by their ...

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