What are Smart Contracts in Crypto? (4 Examples + Animated)
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- เผยแพร่เมื่อ 15 พ.ค. 2024
- Are you wondering what a Smart Contract is? Well, a smart contract is an agreement between multiple people who agree that a piece of code will be executed if certain conditions are met. Right now, I know of 4 main use cases for Smart Contracts, and they are:
1) Flash Loans
2) Insurance
3) Token Switching (Decentralized Exchanges)
4) Buying and Selling real world representations
Watch our animated video on Smart Contracts to understand how each of these examples currently work and what their potentials are in the future!
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This is the first video about digital contracts that makes complete sense, thanks!
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Amazing Visual and Contextual Analogies using Smart Contracts without having to Muck it all up using the actual Solidity Coding .. Most Excellent Video! I subbed too
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This is much better explanation than the other two I just watched. Among the examples, I feel the insurance one makes the most sense. But only if the contract allows the insurance company bankrupt and not paying everyone in the worst case, otherwise seems hard to work for me. Like what if insurance wants to invest with the money it has, that’s the way insurance makes money right. Anyway, it probably will work after resolving the nuance, smart contract does sound very promising for a lot of stuff. But don’t overrate it either, I just heard in another video every achievement human made so far would be pale in comparison to smart contract, 🤔, ok I’ll stop being cynical here, she still has chance to be right
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great video ! but I've got a question, these smart contracts, do you have to write them yourself or is there like an app that can create an insurance for me and that I only have to say how much I want to get paid and how much I'm having to pay ?
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Can you explain how is possible for “Flash Loan” to buy at A exhange sell to B exchange with variant prices? I tot prices is Standardise in all platform? Are your meaning hold and sell?
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