What are smart contracts? The principle of operation.

If you are a beginner in this field, then read such articles as what is cryptocurrency, what is Ethereum, how to buy cryptocurrency profitably, what is Ethereum Wallet.

Smart contract (English Smart contract - smart contract) is a computer algorithm designed to generate, control and provide information about the ownership of something. Most often we are talking about the use of blockchain technology. In a narrower sense, a smart contract refers to a set of functions and data (current state) located at a specific address in the blockchain[1].

Smart contracts, also called smart contracts, are launched after agreement from both sides and are made publicly available if the parties have nothing to hide. The contract can be easily checked by specialists in this field and find a vulnerability or confirm the honesty and openness of the transaction.

Immediately also pay attention to the risks, you need to enter projects that work through smart contracts at an early stage, and you also need to wait for an audit, that is, checking the code on which the contract is written so that there are no vulnerabilities.

The main idea of the contract is to do all the work on an automatic level, without human intervention, that is, all the prescribed conditions are automatically fulfilled. For example, new projects that are becoming popular and can completely bury the industry of HYIP projects. The contract specifies how much the investor receives, how much the technical department that created the contract receives, how much money goes to advertising and partner rewards.

And now about the main thing! Only those smart contracts that have been carefully selected according to many criteria get to my channel. Therefore, I believe that my channel will be useful for both a beginner and a guru in the field of investing.