Smart contracts and Dapps 101 by John Gethoefer Software Engineer at Bumped, Inc.
What Are Smart Contracts
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.
The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.
OTHER VIDEOS YOU MIGHT LIKE:
○ Blockchain 101 –
○ Bitcoin Documentaries –
○ Malta AI & BC Summit –
○ Coinsbank Blockchain Cruise –
Subscribe for new blockchain, crypto, bitcoin videos like this every day!
Welcome to Crypto Resources where you will learn about Blockchain Technology, Bitcoin and emerging trends in Cryptocurrency and Altcoins also surviving and prospering in the crypto market. Thanks for watching!.
Kia kaha.
Note: This channel is not meant to replace a financial adviser and this is not financial advice.
#cryptoresources
TAGS:
crypto,resources,smart contracts and dapps 101,smart contracts and dapps,smart contracts,hedera hashgraph,decentralized applications,distributed public ledger,hedera hashgraph explained,hedera hashgraph review,hedera hashgraph live,smart contracts use cases,what is a smart contract,smart contract tutorial,decentralized apps,smart contracts tutorial,smart contract blockchain tutorial,smart contracts law,smart contracts real estate,blockchain,crypto resources
Don’t forget to share hit the like button and subscribe to our channel for more videos like this!
-~-~~-~~~-~~-~-
Check out: “Malta AI & BC Summit”
-~-~~-~~~-~~-~-
