GM CT 💝
Previously, I talked about what a smart contract is.
Now, what's actually the difference between a Smart Contract, and the normal (traditional) contract.
Let's find out ☺️✍️
Smart Contracts vs Normal Contracts — What’s the Difference? 🧵
Execution: Manual vs Automatic
📌Normal contract:
• People monitor compliance
• Payments, delivery, and enforcement take time
• You often rely on a third party (bank, lawyer, court)
📌Smart contract:
• Executes instantly and automatically
• Enforcement happens through code
What is a smart contract?
A smart contract is a computer program stored on a blockchain that automatically executes when conditions are met
Example; "If payment is sent — product is released instantly."
No human approval is needed once it’s live.
It runs on decentralized networks
GM and Happy new month fam 😊💝
On today's episode of RHIA WRITES ☺️✍️, I'll be talking about Smart Contracts , what it is, how it works, where it is applied, it's importance and uses.
Let's dive in 👇