Let's get to know Smart Contract together.

Let's get to know Smart Contract together.

Many people may be familiar with the term Smart Contract in the crypto industry, but did you know that Smart Contract is not only in the crypto industry, but Smart Contract is also in many other industries. Familiarize yourself with Smart Contracts.

What does Smart Contract mean?

Smart Contract is a contract that records data and executes itself according to predetermined conditions. without going through an intermediary and is safe

So what are smart contracts used for?

As I said, Smart Contract is not just in the crypto industry. but also used in other fields for example

1) Driving license

Nowadays, to get a driver's license, we can do an exam and submit it online. Smart Contract will check if the documents we do meet the conditions set or not.

2) Apartment stay

In some apartments, the door of the room is connected to information that the smart contract indicates that the person with that card can unlock the room. Or when you have to pay for the room, you transfer money to the specified address. The Smart Contract will check if the money transferred is complete or not.

So, are there any drawbacks to smart contracts?

Because Smart Contract is a contract that uses a set of instructions to work. If an instruction set occurs, an error occurs. It would be difficult to deal with errors when doing transactions on the system.

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