Team ZK Shares Their Knowledge Concerning Smart Contract and It's Advantages

hello everyone my name is lawence and with me is my name is and together we are Knowledge from Mon brid and today we'll be talking about smart contracts what are smart contracts smart contract are simply programs that stored on the blockchain and I executed when certain conditions are met when you talk about smart you talk about Innovation and you talk about efficiency now smart contract emphasize on Innovation and efficiency is brought about by automated features and self executed functionalities of contract and this has brought about the advancement on how Agreements are made on the blockchain ecosystem now KY would you like to tell us some of the characteristics of smart contract all right thank you lence for that um one of the characteristic of a smart contract is a fact that isabis when it comes to the the outcome of it execution it's always the same for whoever was it he's not like he's not subject to ertic one Behavior which is common with our traditional contract it is also imut you understand in the sense that the moment you depl smart contract you cannot modify it and you canot manipulate it and we all understand that in our traditional contract there a lot of back up mation but with the smart contract p is M possible it is U it is trustless it is trustless because it doesn't require like a thir part intermediary theal authority to execute it over you get it is executing in itself for the fact that it's in court and lastly it's transparency it's all of the transactions as smart contract deployment and execution can be is visible to everyone else has been deployed it is not it is not subject to um um covering up like you can't let people track what the smart contract is doing so I will go over Jeffrey to tell us more about the use cases of this cont okay so examples of use cases of smart contracts include things like decentralized Finance nfts um Can Implement smart contracts in voting systems in real estate agreements basically any area where trust is necessary and we contractor or where Agreements are necessary smart contract yeah thank you I hope um you one or two on today's episode we look forward to seeing you on next episode stay tuned stay