What Smart Contracts are, and how DApps work
The Internet has given us a double-edged sword: the ability to operate in some contexts without intermediaries. I can book a trip without going through an agency or buy a product directly from the company that produces it. But in order to act without the advice of an expert, I must know the context and the solutions I want to purchase. Otherwise, the risk is to find a useless object in my hands or arrive on the other side of the world and not find the villa with a swimming pool rented online but an apartment without windows.
When you enter the world of contracts, the matter becomes very delicate. Stipulating an agreement between the parties without an intermediary requires a secure tool, and Smart Contracts are the best method to do it without risks.
Smart Contracts are computer protocols that manage transactions in a pre-programmed and automated way. This means that they activate or not specific actions depending on the contractual clauses they contain. All automatically.
What is the advantage? The transaction will take place on a Blockchain platform and therefore will be:
- transparent;
- immutable;
- secure;
- consensual;
- programmable;
- autonomous;
- decentralized.
Stakeholders, in fact, will be able to be anywhere in the world. Everything will happen online, and the technology itself will control the process.
How do distributed or decentralized apps (DApps) fit into this process? Read the full article on the DeltalogiX blog and find out what applications are related to smart contracts.
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Thanks for reading :)
Linda Grasso
