[{"ID":786,"post_author":"1","post_date":"2019-01-09 21:11:07","post_date_gmt":"2019-01-09 21:11:07","post_content":"\n

Introduction of Smart Contracts: <\/h4>\n\n\n\n

Smart contracts seem to be the exchange of investors\u2019 money, his own property, shares in market or his payment without the services of middle-man. This decentralised digital ledger was introduced in 2008 by a technology that works under Bitcoin, using the system of blockchain technology. One of the most important cryptocurrencies that are directly associated with Smart Contracts are Ethereum. The responsibilities of each party are driven in detail by the developers with using their own smart contracts. In official world, when two parties agree on their mutual trade, there is always a fear of disadvantage by the any party in the rules of smart contract. The emergence of Smart Contract fairly solved it. All rules of smart contract simply based on Ethereum blockchain which is completely decentralised. Ethereum blockchain executes itself to being decentralise while doing any exchange in smart contracts. If you would like to read more about smart contracts visit this article<\/a>.<\/p>\n\n\n\n

Need of Smart Contract is necessary, Why?<\/h4>\n\n\n\n

Ethereum have capacity to make revolution in whole industry. Smart contract is truly based on the technology of Blockchain. Due to their immature and unofficial behaviour the security of smart contract seems necessary. This security system was made after the first Ethereum hack of DAO. DAO also a decentralised system and autonomous system that was introduced by smart contacts. This system was formed by the capital fund. <\/p>\n\n\n\n

In 2016, a hacker hacks the whole system and phenomena of DAO and exposited it value and worth. The worth of that hacking was more than 50 million dollars. The hacker hacks huge amount from the Ethereum community than after this need of security system for smart contract was realize. Order of cards are also expressed by the system of smart contract. If you would like to read more about secure your smart contracts visit this article<\/a>.<\/p>\n\n\n\n

How Smart Contract really works?<\/h4>\n\n\n\n

The working of smart contracts basically implies on following main phenomena:<\/p>\n\n\n\n