Do you understand smart contracts

[Antocrypto]

Just curious to see how many people have an understanding of smart contracts. Don't lie! Be honest!

[baobao2000]

Smart contracts is blockchain contracts, or digital contracts. In this format, contracts could be converted to computer code, stored and replicated on the system and supervised by the network of computers that run the blockchain. This would also result in ledger feedback such as transferring money and receiving the product or service.

[klantmarc]

basically, it's a digital contract that will be executed automatically when all parties involved, deliver what they signed up for in the contract.

IF, THEN, ELSE.

[Antocrypto]

Smart contracts is blockchain contracts, or digital contracts. In this format, contracts could be converted to computer code, stored and replicated on the system and supervised by the network of computers that run the blockchain. This would also result in ledger feedback such as transferring money and receiving the product or service.

Please post your answer on the poll!

[Minnasan]

I honestly think smart contract is very good considering the many advantages offered but until now I have not been too interested in smart contract, maybe because I still do not fully understand how smart contract works, but maybe for the next few months I will try it after understanding it first.

[fraufreiheit]

You don't need to know how they work in detsils if you are not a developer. But if you want to be one - learn Solidity first, then you will be able to develop smart contracts using this language.

But as a simple user, why you need to understand it? I'm sure most of us (people in general, not crypto community) don't know how exactly smartphones or plastic cards work, but that doesn't stop us from using them.

[O$IRIS]

It appears that even Vitalik doesn't know what has he created. A platform that makes money disappear with intentions and without.

[aidinx]

I feel the word 'smart' should be removed from 'smart contract' as it does not make sense anymore. Let's put it as 'contract' which is a set of rules that is executed when certain conditions are met. In order to execute a contract or a portion of it, one need Ether. The contract lives in the blockchain, which is a public ledger and developed on blocks.

[AndrisK89]

Ok, thanks now i got it.

[sud]

I would love to learn Solidity and coding smart contracts, so I can fully understand and read them. Although I don't really have spare time to do it now, I will in the near future for sure. It's like the next step if you are into crypto and try to gain as much knowledge about it as you can.