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This article mainly introduces the relevant knowledge of how to understand the Ethernet Square intelligent contract, the content is detailed and easy to understand, the operation is simple and fast, and it has a certain reference value. I believe you will gain something after reading this Ethernet Square intelligent contract. Let's take a look.

Intelligent contract is actually a kind of software program, which can be developed according to the agreed terms between multiple participants and automatically execute different programming instructions under different conditions, for example, the seller automatically delivers the goods when the buyer's payment is received.

Smart contracts are often compared to "vending machines" because people think it's easier to understand:

The vending machine accepts and executes external instructions. When the customer selects the item and pays for it, the vending machine will release the product to the customer without additional human intervention.

In fact, for developers, a smart contract is a program, and it is not so smart.

The concept of intelligent contract was first put forward by computer scientist and cryptographer Nick Szabo in 1994, but there was no suitable environment to implement it at that time. It was not until blockchain, especially Vitalik, that the idea of intelligent contract began to fall to ground gradually.

Why is blockchain an ideal environment for smart contracts?

Because the transaction on the block chain has the characteristics of traceability, tampering resistance and irreversibility, intelligent contracts can be traded safely without a third-party middleman. In other words, the blockchain provides the basic environment for trusted transactions in an untrusted environment, which makes the automated execution of intelligent contracts on the ground.

On the other hand, due to the built-in virtual machine and development language, the efficiency and difficulty of developing intelligent contract on Ethernet block chain are greatly improved and reduced. Therefore, when it comes to smart contracts, basically everyone is talking about intelligent contracts on Ethernet Square.

Application scenario of Intelligent contract

Smart contracts can be used in many areas, such as elections, logistics, management, banking systems, insurance, real estate and the Internet of things. The data on the block chain is encrypted and anonymous, which can reduce the possibility of vote manipulation and is very helpful to improve the voting mechanism. In addition, the supply chain for the Internet of things is long and complex, and through smart contracts, participants in each chain can see logistics tracking, making transactions faster and more efficient.

This is the end of the article on "how to understand the Intelligent contract in Ethernet Square". Thank you for your reading! I believe you all have a certain understanding of the knowledge of "how to understand the intelligent contract of Ethernet Square". If you want to learn more knowledge, you are welcome to follow the industry information channel.

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