Smart Contract – A beginner’s guide!

SMART CONTRACT A BEGINNER’S GUIDE

By Epixel Solutions https://www.epixelmlmsoftware.com

What is Smart Contract?

Smart Contract is a set of computer codes depicted during the initial stage of every function in digital format. It is a computer protocol facilitates, verifies, and enforces the negotiation or performance of an agreement or transaction. Smart contract directly controls all transactions without third parties. Simply, its a form of decentralised computerization. Smart contract the set of codes running on the blockchain platform, underpins various cryptocurrencies.

BLOCKCHAIN TECHNOLOGY Blockchain is a digital ledger system linked with various cryptocurrency transactions.

Blockchain technology is devised for digital currency in MLM industry. This technology revolutionizes the business industry, ensures the success and security of MLM businesses.

Benefits of Blockchain Technology ● Security ● Quick transactions ● Process integrity ● Transparency ● Cost effective transactions What smart contract do on blockchain? It will streamline all complicated process, without the involvement of intermediaries.

How does a Smart Contract work?

Lets narrate with an example : Suppose you’re going to sell a plot, and you have many expectations about your buyer like, ▪ ▪ ▪ ▪ ▪

You would like to sell the plot, and you have an expected price in your mind.

Many buyers approach you and negotiation is always a concern.

You can’t just bargain everyone one after other and it’s a headache!

Taxes, land clearance, and other rules come in between as legal norms.

The purpose of buying might be your concern.

Many such factors arise & one go through these each and every time. Smart contract will become ease, if all these factors are interconnected using blockchain. It can make things more convenient.

Advantages of Smart Contract ▪

Simple and well-organized

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Autonomy & customizable

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Highly secured & trusted deal

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Transparent network

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Timestamp functionality

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Cost-efficient

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Accurate and reliable source of contract

These advantages satisfy your requirements effectively.

Services Smart contract applications varies from service to service, it ranges from : ▪

ICO services

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Token sales

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Transaction

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DApp development

Applications of Smart Contract ▪

Financial institutions

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Insurance sector

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Supply chain management

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Mortar/property sector

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Transportation/shipping segment

Smart Contract in future!

With the implementation of smart contracts in the real world, there is no need for any intermediaries. Security matters the most, it is strictly followed in the blockchain. The world is digitizing, integrating these special features into the reallife make things simple and accurate. So, the smart contracts are going to have its impact on the future as well as the present time. Technology is going to push the limits and sooner or later the impact is going to see on the current system.

Get in touch with us: Check out Smart Contract – A beginner’s guide https://www.epixelmlmsoftware.com/blogs/smart-contract-a-beginners-guide

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