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1. What are Smart Contracts

2. What are Smart Contract?
A smart contract is a self-executing piece of code that is stored on
the Blockchain and is activated when specific conditions are met.
This code can automate transactions and agreements between
parties without the need for a third party to monitor or approve the
contract.Defi Development Company So let's see what a smart
contract is, how it works and its advantages and disadvantages.

3. How do smart contracts work?
Smart contracts or smart contracts are stored in a chain of blocks
and are activated when certain conditions are met. For example,
suppose you have a smart contract with a friend to split the dinner
bill. The terms of the contract would state that each person would
pay an equal amount of money in the contract.Defi Smart Contract
Development Once the bill is paid, the money will be distributed
accordingly. If one person tried to cheat and not pay their share of
it, the contract would not be performed and the other person would
not have to pay anything.

4. Advantage
● They are self-executing.
● They provide high security and transparency.
● They are tamper proof.
● They are flexible
● They are immutable
● They are private and confidential

5. Disadvantages
● They are not regulated.
● They are vulnerable to hacking
● they don't understand each other well
● They can be complicated to create
● They are not always binding
● They are still a new technology

6. COMPANY BLOCKCHAINX
WEBSITE
https://www.blockchainx.tech/decentralized-finance-defi-develop
ment
E-MAIL ID contact@blockchainx.tech
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