From the course: Blockchain: Learning Solidity
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Introduction to smart contracts
From the course: Blockchain: Learning Solidity
Introduction to smart contracts
- [Instructor] A smart contract is basically code or an automated process that handles a transaction in between two parties without a middleman. Now, that may sound like a mouthful for some of you. So let me show you a simple example so it makes a bit more sense. Let's say, for example, you'd like to have your will handled by a smart contract. You could define the specific conditions of this contract through code, and upon your death, this program, and not a third party, would handle your will. For example, you could write out a condition that your grandson receives 10% of your heritage but only if he is enrolled into university and is 21 years of age or older. And add as many rules in the smart contract as you wish. The smart contract or the code would handle your affairs without the need of a middleman. So you deposit your inheritance into the smart contract, most likely into a cryptocurrency, and until your condition of…
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