1.2.0. Smart Contracts
Do you now understand what a smart contract is all about?
For further clarity, consider a television set. Just about 15 years ago, a television set could only provide viewing services. When you would buy a television at that time, the only thing you would expect from your television set was that it would show you moving pictures once you turn it on.
However, with the birth of the internet, many other activities have been inbuilt into newer televisions. That is, a new television will still provide its primary function of showing you moving pictures but it can do many more activities such as internet browsing, message transmission to other devices using Bluetooth, voice modulation, data sharing, etc.
These extra activities on new televisions make them smarter than old televisions. Hence, newer television sets are called Smart Televisions.
The old television set can be compared to old blockchains – the POWs. The newer blockchains (the POS and POA) are like the newer television set. The extra activities on newer television sets are like the smart contracts on these newer blockchains.
’Hope you now understand what smart contracts are.
The followings are prominent blockchains that have smart contracts:
• Ethereum Smart Chain
• Binance Smart Chain
• Cardano Smart Chain
• Polkadot Smart Chain
• Solana Smart Chain
• Polygon (Matic) Smart Chain.
Many more blockchains with smart contracts are being born rapidly in the Crypto Market.