A smart contract often referred to as a crypto contract, is a piece of computer software that, under specific conditions, controls directly and automatically how digital assets are transferred between the parties. A smart contract runs with automatic contract enforcement, just like a regular contract. Smart contracts are computer programs that function exactly as intended by their creators. Similar to how a traditional contract is enforced by law, smart contracts are enforceable by code. The bitcoin network was the first to use smart contracts to transfer value from one party to another. The associated smart contract checks that the value to transfer exists in the sender account and other basic conditions. In this blog, people can learn the top things about the most popular blockchain smart contracts or the best blockchain for NFT.
By utilizing smart contracts to transfer value from one party to another, the bitcoin network was the first to employ them. The related smart contract uses fundamental criteria like verifying that the amount of value to transfer is indeed present in the sender account. Later, the Ethereum platform appeared, and it was regarded as being more powerful since programmers and developers could create unique contracts using a Turing-complete language. It should be emphasized that the contracts created for the bitcoin network were written in a language that is Turing-incomplete, which limits the possibility of implementing smart contracts in the bitcoin network. Platforms for smart contracts include Hyperledger Fabric, Solana, Polkadot, Ethereum, and others.
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