Blockchain smart contract example

Blockchain smart contract example
Blockchain smart contracts important in the technology world those explain in five examples

Five illustrations of blockchain smart contracts are as follows:

1 Decentralized Finance (DeFi) Contracts: These smart contracts may be used to undertake decentralized financial operations such as lending, borrowing, and trading without the assistance of middlemen like banks. The MakerDAO project employs smart contracts to manage the Dai stablecoin, whose value is correlated to that of the dollar.

2 Identity Management Contracts: These smart contracts deal with digital identities to temporarily and securely identify individuals and objects. Smart contracts are used, for instance, by the Civic platform to verify users’ identities and grant access to a variety of services.

3 Game Contracts – These smart contracts allow for fair, impenetrable, and decentralized gaming and gambling. For instance, the Etheroll platform uses smart contracts to offer a decentralized dice game where players may gamble on the outcomes of the rolls.

4 Real Estate Contracts – These smart contracts are intended to make buying and selling real estate easier. Using smart contracts, the Propy platform, for example, automates the transfer of property titles, doing away with the need for middlemen like real estate agents and lawyers.

5 Supply Chain Contract – These smart contracts offer accountability and transparency by effectively monitoring and tracking products as they pass through the supply chain. An auditable record of a product’s path from the producer to the consumer is provided by the VeChain platform, which employs smart contracts to manage supply chain data. https://securedapp.in/our-services/
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