A quick explainer: What exactly is “smart” about smart contracts?
A smart contract is a piece of code deployed on a blockchain. When the specified conditions are met, nodes across the network execute it automatically according to the code.
“Code is law” also means that if a contract has a vulnerability, others can exploit it by following the code—and it’s often very difficult to undo afterward.
Calling a smart contract on Ethereum requires $ETH to pay for Gas.
Make sure you understand how things work before taking action; don’t place orders based on gut feeling.
A smart contract is a piece of code deployed on a blockchain. When the specified conditions are met, nodes across the network execute it automatically according to the code.
“Code is law” also means that if a contract has a vulnerability, others can exploit it by following the code—and it’s often very difficult to undo afterward.
Calling a smart contract on Ethereum requires $ETH to pay for Gas.
Make sure you understand how things work before taking action; don’t place orders based on gut feeling.