Simply put, smart contracts are blockchain-based algorithms that execute when certain criteria are met. They are often used to automate the implementation of a contract so that all parties can be certain of the conclusion right away, without the need for an intermediary or additional delay. They can also regulate a process so that the following action is executed when circumstances are met.
By eliminating the need for a middleman, legal system, or outside regulation through smart contracts, anonymous parties can carry through operations and agreements without paying any costs to these third parties and foster frictionless business practices.
They have altered the entire world. Smart contracts are perhaps the most important breakthrough since the discovery of the World Wide Web.
The top game production platform Unity announced that they connected to Web3 on Tuesday, February 28, while they unveiled a new “decentralization” category in their online store. The Unity Asset Store will provide solutions that have been screened for quality to benefit game creators who are interested in decentralization tech and are ready to implement … Read more
Goldman Sachs, which is an investment bank, has said that there is a strong possibility that the company would hire additional workers to strengthen its digital assets division. Mathew McDermott, the worldwide head of the team, reportedly affirmed in an interview (1) that the bank continues to be “hugely supportive” of blockchain applications. Hence, even … Read more
The Blockchain Founders Fund (BFF), a venture capital fund based in Singapore that invests in the most successful blockchain firms worldwide, has raised $75 million for its Fund II, which just recently ended. After the announcement (1) of the major close of its Fund II in early 2022, the venture capital fund made public on … Read more
Yuga Labs, the business responsible for the Bored Ape Yacht Club collection, the most successful non-fungible token (NFT) collection in the world, has announced intentions to launch the company’s very first Bitcoin-based non-fungible token initiative later on in this week. The company announced (1) on Monday as it moves on with plans to ride the … Read more
The Lotte Group, a multinational conglomerate based in South Korea, has teamed with Polygon to grow its business dealing in non-fungible tokens (NFT). Reports indicate that Lotto intends to employ widespread blockchain technology to launch its NFT operations onto the global market. Daehong Communications, which serves as Lotte’s marketing and NFT hub, has also supplied … Read more
The next Bitcoin halving event is expected to occur in March 2024, according to data (1) from Bitdegree. The anticipation surrounding this event looks to be reaching a fever pitch. In the past, Bitcoin halvings have occurred around every four years, although it is impossible to forecast when the next one will take place accurately. … Read more
On February 25, 2019, the liquid staking platform Lido had the greatest single-day staking inflow of almost 150,000 Ethereum (ETH) valued at an astounding $240 million. Consequently, the total value locked (TVL) on the Lido protocol had a one-day increase of 2.09%. The overall value of items locked on Lido has increased by 9% over … Read more
Cybercriminals are taking advantage of vulnerabilities in the smart contracts that govern decentralized finance (DeFi) platforms, according to a new warning that was issued by the Federal Bureau of Investigation (FBI) on Monday. The warning focused on attacks against decentralized finance (DeFi) platforms. According to the agency, which cites a report published in April 2022 … Read more
According to Vitalik Buterin, Cryptographic payments are superior, and people underestimate their potential. Vitalik Buterin, one of the co-founders of Ethereum (ETH), is of the opinion that crypto payments offer advantages that are underappreciated by the general public due to the convenience and censorship-proof nature of these transactions. People continue to underrate how often cryptocurrency … Read more
Nike, a well-known brand in the fashion industry, has risen to the top of the list of Non-Fungible Token (NFT) exposed traditional corporations who have raked in the most money from digital collectible transactions to this point. According to information obtained by Dune Analytics and provided by NFTGators, Nike has accumulated a total revenue of … Read more