O Allah, send blessings and peace upon our master Muhammad and upon his family and companions, and grant them peace ๐น๐น๐น๐น๐น๐น๐น๐น
Coins Holder
--
For Beginners Today's Concept: Smart Contracts
What are Smart Contracts? Imagine you are dealing with a digital lawyer who never sleeps, exists on the blockchain, and executes commands automatically and without emotions.
1. The Digital Vending Machine (Analogy): The best analogy is a vending machine. If you put in (A) the specified amount, it will deliver (B) the product automatically, without the need for a human intermediary. 2. Code is Law: A smart contract is just a piece of code (law) written on the blockchain. This code defines the conditions: "If condition (A) occurs, execute result (B) immediately". 3. Its Importance: Smart contracts are the "brain" that manages all decentralized finance (DeFi) applications. They automatically execute financial obligations and transactions without the need for mutual trust.