Title:
The rise of smart contracts: the revolutionarization of decentralized finances of the CRIPTO currency
Introduction
The world of finance has passed a significant transformation in recent years, guided by the appearance of a crypto currency and smart contracts. As the adoption of cryptocurrencies still grows smart contracts.
** What are the smart contracts?
Smart contracts are programs only stored on Blockchain book that automates certain rules and transactions when certain conditions are fulfilled. They use the CRIPTO currency as a means of exchange and are programmed to perform certain actions when the contract is initiated. Only the execution of a smart contract (sec)
A role in decentralized finances
Smart contracts revolutionized decentralized finances, allowing new types of financial instruments to appear. Some key reports of smart contracts in Defic include:
- Decentralized Loan : Smart Contracts can be used to create a borrowing platform that enable users to borrow and burn the CRIPTO currency without the need for intermediaries or central authorities.
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- Token assets :
Key features of smart contracts
Smart contracts have several key features that make them ideal for defic apps:
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Examples in the real world
Several successful defic platforms were built using smart contracts, including:
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- Compound : Decentralized Protocol to Manage Interest Retures
Challenges and Risks
Although smart contracts of numerous benefits for decentralized finances, there are also challenges and reapers associated with their adoption:
- Regulatory frames :
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Conclusion
Smart contracts revolutionized decentralized finances by providing new types of financial instruments and automating complex financial rules and transactions. As the adoption of cryptocurrency is still growing