What is a Smart Contract in Blockchain?

What is a blockchain?

DLT Properties // Source: Euromoney

Blockchain vs Bitcoin

What is a smart contract and how does it affect a blockchain?

How Smart Contract Works // Source: Hashnode

Smart contracts benefits

How to use a smart contract?

  1. Developers decide on the defining guidelines for the smart contract’s behavior.
  2. Conditions and complex operations of a smart contract are determined.
  3. A smart contract is created on the writing platform and the rationale is tested.
  4. Internal expert gets involved to provide security for the smart contract.
  5. The smart contract is deployed on the blockchain.
  6. “Oracle” (a cryptographically secure streaming data source) is configured into the smart contract to provide event updates.
  7. Once an oracle (-s) reaches the required sequence of events, the smart contract then executes.

How can GetBlock help?

GetBlock // Source: GetBlock.io

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GetBlock is a service that provides fast and easy API connection to blockchain nodes of 40+ cryptocurrencies.