Smart Contracts

A smart contract is a self-executing contract between two traders written directly into lines of code. It contains the terms of the agreement between the buyer and the seller. This code exists on a decentralized, immutable public ledger, enabling the secure exchange of value. Furthermore, that code controls the execution, and the transactions are irreversible, transparent, and trackable. Smart contracts permit the transaction of valuable digital or physical assets between anonymous parties without needing a mediator, legal system, or central authority. The…

The security situation within the DeFi sector has been one of the top issues for users. Many new projects and inventions make attempts to address it a priority. These projects make several attempts to provide some slight assurance of user safety to users as a result. Among the key lines of thought is improving project anonymity. Using items like crypto tumblers may enhance the ability of masking. Another angle of improving user safety is targeting malware that carries out phishing…

Cardano (ADA) users will run smart contracts on the network once the Blockchain completes its Alonzo Hardfork. That is according to Charles Hoskinson ADA's founder. Mr. Hoskinson revealed the news through a YouTube live stream.  The announcement paves the way for Cardano to enter the Smart Contract sector, challenging Ethereum's supremacy in the space. It will come as welcome news for ADA holders and neutrals who've been looking for alternatives besides the Ethereum Network(ETH). A significant gripe against ETH has…

Smart contracts were introduced in 2015 with the introduction of the Ethereum network. Their role was to digitize and tokenize financial and non-financial services like payments, trading, etc. Signing contracts is highly simplified through smart contracts, only following the blockchain.  Primarily, smart contracts are not bound by a particular jurisdiction; therefore, they can operate on a global level.    However, one problem with making smart contracts is that they cannot access off-chain data. Instead, hybrid contracts can work with data already…

According to insights by the ETHhub founder Anthony Sassano, smart contracts account for Ethereum worth $63 billion. The value follows up on the Decentralized Autonomous Organization (DAO) event, which took place in 2016 and had Ethereum worth $230 million. Ideally, smart contracts are a pioneering technology residing on a blockchain that enables parties to make agreements through a code. Unfortunately, data also shows that huge chunks of ETH withdrawals make their way into DeFi applications and smart contracts, leaving exchanges…

The much-awaited milestone on the Cardano network is finally here. According to the June updates, Tim Harrison, the marketing director of IOHK, confirmed that the first smart contracts of Cardano's testnet Alonzo are finally up and running. Cardano Smart Contracts The basis of programmable smart contracts in the Cardano network is Alonzo Blue. Alonzo is deployed on the mainnet via multiple testnet so that their partners and pioneers can check Plutus Core during May and June before code freezes by…

Not long ago, Elon Musk called out Bitcoin for its mining mechanisms to wreak havoc on the environment. His apparently innocent tweet dragged the entire crypto market back into bear territory after one of the most impressive bull runs in its history. Besides that, it also raised the question - can cryptocurrencies be eco-friendly? The answer came from the legendary Apple co-founder, Steve Wozniak, and his new project, Efforce. His vision is that of a “revolutionary platform aiming at increasing…

Input-Output Hong Kong, one of the companies behind the Cardano blockchain, has unveiled its plan for the rollout of its new smart contract platform on May 27. Alonzo will be implemented in September 2021 as the next step in a series of upgrades to the blockchain. It is a hard fork that consists of a series of color-coded testnets. IOG has started the Alonzo Blue test, which will bring new features like smart contracts on the Cardano network and a…

Theta Labs, the development team behind Theta blockchain, has revealed plans to deploy a smart contract on its Mainnet. This was revealed in a blog post where it highlighted other developments planned for the blockchain. Smart Contract To Launch On December 10 Theta Labs stated that the smart contract was a key development for the blockchain and will go live on December 10 by 12 pm UTC. The development team also revealed that the smart contract resulted from months of…