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How Will You Publish?If you want your projects and applications to work with high security, fast and supported by all devices; Bingo! Access to advanced technology is now possible with blockchains!
What is Your Expectation?If you want to be successful with an application that can be developed continuously, with a flexible architecture and high security; You made the right choice.
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How Smart Contracts Work?
Agreement: First Stage, Mutual Consent
There are two parties in contracts that have been used for thousands of years. The one who offers and approves the contract. The first stage in smart contracts; agreement between the contracting party and the ratifying party. Digital Smart Contracts; digitizes this agreement process. Thus, it is ensured that contracts can be created and approved instantly.
In the first step, the party presented gives the contract approval. Thus, the first phase of Smart Contracts comes into play.
Unlike traditional contracts, digital and smart contracts include a high level of security. Because imitative signatures, imprecise approvals and similar situations are not possible. The entire contract is made between digitally designated devices/personal, and both parties’ information is reliably recorded. At the same time, smart contracts are not affected by natural disasters like traditional contracts. Fireproof. It will not be destroyed.
Conditions: Everything Open and Secured
Smart contract terms are clear and traceable. Traditional contracts are often not open to scrutiny. Abuses happen and are easily imitated. Smart contracts, on the other hand, distribute all terms equally to the parties. All conditions can be reviewed without any limitations prior to approval. The parties may be subject to personal and inter-system review.
All terms, as they are always approved by review; acts as an absolute clause between the contract maker and the approver. If you wish, you can make changes to the smart contract terms by mutual agreements. But high-level security contracts; Once approved, it becomes binding on both parties in terms of terms and conditions.
Just like the approval/disapproval situations, the contract clauses are also recorded digitally. It cannot be changed. Rights that are not understood after being classified cannot be claimed. It provides absolute protection for both parties.
Coding: New Generation Operation
In the past years, pen and paper were used to draw up contracts. We are now in a new world order! New generation technologies are used instead of old methods. Smart contracts are the pinnacle of it! Instead of the paper and pen of old times, there are now keyboards and lines of code. Because such a much lower cost, safe, environmentally friendly and easy to operate…
Smart contracts are essentially lines of code. In fact, what you’re doing is your approval to run lines of code, not paragraphs of writing. The next transaction of a contract that has been agreed and approved in all terms between the two parties; is to dump all these items as approved by code directories. This much; You can think of it like printing out an agreed upon contract!
Blockchain: Now You Are Ready!
Congratulations; Your smart contract has been created. The parties are formed. The terms have been reviewed. All code has been compiled and validated. You are now ready to take off!
Smart contracts are functional when made and completed between two people. However, only these two parties are aware of the binding articles, conditions and whether they have been signed or not. The contract has been made. But it was not stamped and approved. This is where blockchains come into play!
Your completed and approved contracts are then moved to a blockchain network. Thus, from the moment it was added to the blockchain, its record and content could never be changed, edited, deleted or disposed of!
Execute: Let the Blockchain Work and Everything Controlled
Blockchains are the record system of the future. It can never be changed, edited, deleted… Your smart contract is now open to the control of an entire network, not between two people!
Actually, there were 2 parties that made the smart contract. But now all devices connected to the blockchain network will check and confirm the eligibility of your agreement for you. Your contract, which is no longer a secret known to two people, will now become internationally clear with the approval of the public network!
Without leaving any room for dispute, discussion or objection, the blockchain will provide the entire contract security for you. You will be able to review your deal time, content, conditions and other content forever. Remember, everything that happens on the blockchain is recorded!
Recording: Process Completed!
Your contract is now in effect. Codified, validated, distributed to the network and mutual obligations are/are fulfilled.
Your transaction is complete!
Remember; Now every transaction is recorded and is being recorded. Blockchain and smart contracts timestamp and record each transaction made. Every transaction made is added to the witness of the entire network. Without leaving any room for discussion, your contract is in effect. All that remains is for both parties to fulfill their obligations!
There is no limit to what you can get covered by a smart contract. If you want, you can make transactions such as business deals, money transfers or property transfer as in traditional contracts. If you wish, you can organize your services and services and manage processes that “really” touch life. Everything else is left to your imagination!
Recent News in Blockchain
Cloud computing platform Amazon Web Services (AWS) has partnered with Ava Labs to scale blockchain adoption for enterprises, institutions and governments, the two companies announced in a blog post Wednesday.
The blockchain project’s cofounder Vitalik Buterin says its recent big upgrade lays a path for more technical changes, and greater adoption.
Activity on the Solana blockchain remains high even though there are an estimated 50 million solana (SOL) tokens locked in crypto exchange FTX’s Chapter 11 proceedings, Citi (C) said in a research report Thursday.
Ethereum’s historic shift last year to a proof-of-stake network – known as “the Merge” – was one of the biggest stories of the year in crypto markets.
Samsung Asset Management announced that it plans to launch Bitcoin futures exchange-traded fund (ETF). On January 13, Samsung will list the ETF on the Hong Kong stock market while Hong Kong retail and institutional investors show a rise in interest.
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