What are smart contracts?
An example of an AI chatbot conversation about smart contracts and their applications.
What are smart contracts?
Smart contracts are self-executing contracts with the terms of the agreement directly written into code.
How do they work?
They run on blockchain technology, automatically executing actions when predefined conditions are met.
What are some real-world applications?
They can be used in various fields like finance, supply chain, and real estate for automating processes.
Are they secure?
Yes, they are secure due to the decentralized nature of blockchain, but vulnerabilities can exist in the code.
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