Kishoresk1017
Uploaded on May 19, 2022
At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding. Our experience so far in ICO and blockchain development is unmatched and it allows us to provide stable cryptocurrency solutions that are tailor-made to match your business requirements. Raise your Initial Coin Offering with minimal steps and get professional guidance from our team of blockchain and cryptocurrency experts.
_Smart Contract Work with Blockchainx_
How Smart Contract Work with Blockchainx?
Smart contracts
Smart contracts are simply programs stored on a blockchain that are executed
when predetermined conditions are met. They are usually used to automate the execution
of an agreement so that all participants can be immediately sure of the result, without the
involvement of any intermediaries or loss of time. They can also automate a workflow,
triggering the next action when conditions are met.
How smart contracts work
Smart contracts work by following simple “if/when…then…” statements that are
written in code on a blockchain. A network of computers executes the actions. when
predetermined conditions have been met and verified. These actions could include
releasing funds to the appropriate parties, registering a vehicle, sending notifications, or
issuing a ticket.
Benefits of smart contracts
● Speed, efficiency and precision
● Trust and transparency
● Security
● Savings
Speed, efficiency and precision
Once a condition is met, the contract is executed immediately. Because smart
contracts are digital and automated, there is no paperwork to process and no time to
reconcile errors that often result from manually filling out documents.
Trust and transparency
Because there is no third party involved and because encrypted transaction records are
shared between participants, there is no need to question whether information has been
altered for personal gain.
Security
Blockchain transaction records are encrypted, which makes them very difficult to
hack. Also, because each record is connected to the records before and after it in a
distributed ledger, hackers would have to alter the entire chain to change a single record.
Savings
Smart contracts eliminate the need for middlemen to handle transactions and, by
extension, the associated delays and fees.
COMPANY BLOCKCHAINX
WEBSITE https://www.blockchainx.tech/token-migration
E-MAIL [email protected]
THANK YOU
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