How do smart contracts work in Ethereum

[Thomas petersen]

Hello, It seems to me that smart contracts is a bit difficult to understand. It confuses the basic interaction described. I know smart contract binds a relationship with cryptographic code means they carry out the tasks set by their makers.
Would anyone want to share how the Ethereum smart contracts works actually ?

[samiraetn]

Smart contract is used for holding the account on Ethereum blockchain. It is based on cryptographic code.It can be used also as multi- signature accounts.

[Disclaimert]

smart contracts are one of the main features of ethereum which is a self executing contract written in code. This particular contract is generally within the agreement and you will be performed instantly. With this particular function, you'll be able to help to make immediate obligations on the decentralized system. Through creating a repayment by using this function, you won't discover any kind of intermediary or even down time down time although not necessarily the situation whenever you create a deal. Additionally, should you place ethereum money upon additional investors and also the worth doesn't improve inside a particular time period, you can't prosecute the actual investor.

[shinratensei_]

Hello, It seems to me that smart contracts is a bit difficult to understand. It confuses the basic interaction described. I know smart contract binds a relationship with cryptographic code means they carry out the tasks set by their makers.
Would anyone want to share how the Ethereum smart contracts works actually ?

You can try to learn more about how smartcontract works through ethereum wiki and that has explained a lot about that
https://github.com/ethereum/wiki/wiki/White-Paper
as far as I understand the smartcontract is the evolution of the bitcoin protocol with some improvement that makes the chain will able to support dapps development.

[bonballi]

Nowadays Eth is one of the good coin in the market also it has good market value based on this by using smart contracts we can do many things like we can buy anything also we can exchange our money from banks based on this it’s so helpful for people of Eth user because of Smart contract.

[johstacy]

Firstly, you need to understand the code to write smart contracts.
In a smart contract, you can specify any conditions under which certain actions will occur. For example. Ether that enters this purse is less than 1 Ether - sent back to the sender. All amounts that are greater than 1 Ether remain in the wallet and in return certain tokens are sent. Here you need to set a certain rate 1Ether = 100 tokens.
However, there are many nuances. It is necessary to provide for the withdrawal of tokens from the contract in the event of an unforeseen situation. If there is an error in the code, then additional conditions (insurance) are required.

[annasadia]

Though Eth is the little new in the market so it offers many facilities to its customers also they are very concern about new tech based on this with smart contracts we can purchase property also shopping & many thing with this smart contract we can exchange money from banks too.

[Wuddly]

Using smart contracts, you can simplify work in many areas of life, including logistics, management, law and even in elections. An open blockbuster platform, which is best suited for writing smart contracts and working with them. You can make any program...

[bct9t]

Well, the main purpose of Ethereum smart contract is there will a code in the Ethereum which is always written in the Ethereum blockchain. It helps to transfer currencies between different customers directly through computer program and it depends on the code. This is the process how smart contract work.

[climaxcrypto]

Generally smart contract is the development of blockchain. People can make a contract that will results something by following some logic.