đ Smart Contracts: Magic Wishes That Can Make Things Happen By Themselves! đź
Imagine you want to buy a toy from your friend. Normally, you would have to give them some money and they would give you the toy. But what if your friend is not very honest and they donât give you the toy after you pay them? Or what if you donât have enough money to buy the toy right now, but you promise to pay them later? đ€
Thatâs where smart contracts come in. Smart contracts are like special rules that both of you agree on and write down on a computer. The computer can then check if the rules are followed and make sure that both of you get what you want. đ»
For example, one rule could be that your friend will only get the money if they send you the toy first. Another rule could be that you will pay your friend in installments, meaning a little bit of money every week or month, until you pay the full price. The computer will keep track of how much money you have paid and how much you still owe. đ
The best part is that smart contracts can work with anything that can be measured or verified by a computer, not just toys and money. For example, smart contracts can help people share electricity from solar panels, rent cars or houses, vote in elections, or play games. đđđ đłïž
Smart contracts are very powerful and useful because they can make things happen automatically, without anyone having to watch over them or interfere with them. They can also save time and money by avoiding middlemen, such as lawyers or banks, who usually charge fees for their services. đ°ïžđž
Smart contracts are not really contracts in the legal sense, because they are not written in human language, but in code. Code is like a secret language that only computers can understand and follow. Smart contracts are also not really smart, because they donât think or learn by themselves, but only do what they are programmed to do. đ€đšââïž
Have fun exploring! đ€
