Apr 5, 2021
How Smart Contract works?
The working mechanism of Smart Contracts can be said to be the same as with a vending machine. That means they only automatically execute pre-programmed permissions before that provision has met all the necessary requirements.
First, the terms of the contract will be written in a programming language, then encrypted and transferred into a block belonging to the Blockchain. After moving into the block, this Smart Contract will be redistributed and duplicated by nodes that are active on the platform.
After receiving the execution order, the contract will be executed according to the predetermined terms. At the same time, Smart Contract will also automatically check the implementation of the commitments and terms stated in the contract.
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