Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Bobcrypto on April 23, 2022, 09:37:17 AM
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In conventional contract systems, you sign an agreement, then you trust and hire a third party for its execution. The problem is that in this type of process, data tampering is possible. With smart contracts, the agreement is coded in a program. A centralized authority does not verify the result; it is confirmed by the participants on the Ethereum blockchain-based network. Once a contract is executed, the transaction is registered and cannot be altered or tampered, so it removes the risk of any data manipulation or alteration. what do you think?
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In conventional contract systems, you sign an agreement, and then you trust and hire a third party for its execution. The problem is that in this type of process, data tampering is possible. With smart contracts, the agreement is coded in a program. A centralized authority does not verify the result; it is confirmed by the participants on the Ethereum blockchain-based network. Once a contract is executed, the transaction is registered and cannot be altered or tampered with, so it removes the risk of any data manipulation or alteration. what do you think?
In my option, Smart contracts are far better than conventional contracts. Conventional contracts are prone to manipulation and why Smart contracts are not.
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Smart contracts certainly have features that traditional contracts don't. However, there aren't many experts and therefore businesses that are able to use smart contracts in their everyday transactions, which is unfortunately a big disadvantage.
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In conventional contract systems, you sign an agreement, then you trust and hire a third party for its execution. The problem is that in this type of process, data tampering is possible. With smart contracts, the agreement is coded in a program. A centralized authority does not verify the result; it is confirmed by the participants on the Ethereum blockchain-based network. Once a contract is executed, the transaction is registered and cannot be altered or tampered, so it removes the risk of any data manipulation or alteration. what do you think?
Smart contract is the future technology, So I think smart contract is better than traditional contract.
Crypto currency is the pioneer of smart contract platform at digital currency. and Ethereum is the King of smart contract platform.
That's the fact.
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I think I'm agree , smart contract is better than traditional contract.
traditional contract based on centralized system, and smart contract on decentralized platform.
two different think.
Traditional contract is handling by central bank.
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The biggest reasons why they are called as smart contracts is because they are really smart, of course. Compared to traditional contracts in the world of business and legal parlance, smart contracts can be considered to be less risky for the parties involved and there is always that transparency involved but it does not mean they are risk-free...yes less risk but not risk-free.
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The biggest reasons why they are called as smart contracts is because they are really smart, of course. Compared to traditional contracts in the world of business and legal parlance, smart contracts can be considered to be less risky for the parties involved and there is always that transparency involved but it does not mean they are risk-free...yes less risk but not risk-free.
If you talk about risk as the reason of comparation between smart contract and traditional contract, I agree.
Smart contract is faster and safer than traditional contract.
So, I think it's the future technology.
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It's one of the core technologies on blockchain
it's better in many ways
but doesn't mean it's always better