Cryptopedia: Learn the basics of smart contracts and how they work
Cointelegraph explains what smart contracts are and how this blockchain-based technology changes the way transactions are made. Cointelegraph's Jackson DuMont tackles smart contracts in the latest episode of Cryptopedia. He explains how smart contracts work from the basics and provides examples of how they can be utilized in real-world scenarios. DuMont describes smart contracts as code within the blockchain that "execute when specific conditions are met." They are self-executing contracts built on blockchain technology and have the power to complete transactions without middlemen. As an....
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There’s a lot of excitement surrounding discussions about the blockchain and its 2.0 possibilities. In the midst of all this hype, people often forget that a good percentage of the world still do not know what bitcoin is or how to use it. A 2014 report from the Wall Street Journal claimed that 76% of consumers have not heard of Bitcoin. Even though a....
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If you have no idea what a cryptocurrency is and never heard of Ethereum, then this is the right post for you. Ethereum, you would have heard about it by now. If not, then I guess you have been out of touch with the cryptocurrency industry for a while or you are really new to it. Well, don’t worry we will get you up to speed in this article. What is Ethereum? It is a relatively new cryptocurrency that is making waves in the cryptocurrency ecosystem. Unlike bitcoin, it is designed to be a smart contract platform based on the blockchain technology. The crypto tokens on this platform are....
Oracles, according to Cryptopedia, are protocols for smart contracts in the blockchain industry to interact with external data. Smart contracts are essentially computer programs that run within a blockchain and automate a set of transactions when certain conditions are met. Thus, smart contracts contribute to the complete decentralization of the blockchain industry by allowing transactions to take place automatically and without the intervention of a third party. As appealing as the concept of blockchain as a self-contained, permissionless, and trustless system is, it would have no....