What is a Smart Contract? Advantages and disadvantages
Smart Contract is a term often mentioned in the field of blockchain technology. Known for automating digital transactions and contracts, Smart Contract promises to bring transparency and efficiency to financial and cryptocurrency operations. However, like every new technology, Smart Contract is not lacking in challenges and risks. Follow our article to learn in detail about the advantages and disadvantages of Smart Contracts in today's digital world. What is a Smart Contract? Smart Contract is a concept in blockchain technology, especially popular on platforms like Ethereum. These are computer programs written in programming languages, stored and executed on the blockchain network. Smart Contract has the ability to automatically execute and check contract terms when conditions are met. How to operate a Smart Contract? Smart Contract operates through 4 main steps: transaction, verification, execution, and recording. Firstly, parties involved create a transaction by registering con