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BTC 66,716.48 (-0.37%) -
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ETH 3,070.21 (-1.51%) -
SOL 169.80 (-1.03%) -
BONK <0.01 (+6.93%) -
PEPE <0.01 (-3.40%) -
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FTM 0.85 (-4.39%) -
RNDR 10.15 (+0.64%) -
LINK 16.83 (+3.09%) -
BOME 0.01 (-3.87%) -
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NEAR 7.77 (-1.70%) -
ENA 0.70 (-8.49%) -
XRP 0.51 (-2.05%) -
FLOKI <0.01 (-3.39%) -
ORDI 39.63 (-3.76%) -
CREAM 85.57 (+47.33%) -
BCH 492.10 (+3.21%) -
RSR <0.01 (+0.32%) -
AVAX 35.70 (-4.11%) -
PEOPLE 0.04 (-1.76%) -
WLD 4.77 (-5.02%) -
ICP 12.67 (-5.86%) -
AEVO 0.81 (-2.16%) -
BLZ 0.28 (-13.62%) -
PYTH 0.38 (-13.96%) -
FIL 5.57 (-5.09%)
Demystifying Smart Contracts The Future of Digital Transactions
Published: 2023-05-26
Smart contracts have gained a lot of attention in recent years, thanks in part to their successful implementation in blockchain technology. They are digital contracts that hold the power to revolutionize many sectors of the economy, from supply chain management to financial transactions. This article will explore the inner workings of smart contracts and how they are changing the future of digital transactions.
Main topics
1. What are smart contracts?
2. How do smart contracts work?
3. Benefits of smart contracts
4. Real-world applications
5. Challenges and limitations of smart contracts
What are smart contracts? Smart contracts are self-executing agreements that run on top of blockchain technology. They are digital contracts that are programmed to execute automatically when certain conditions are met. These contracts have the potential to replace traditional legal contracts, simplifying the process of verifying, executing and enforcing agreements.
How do smart contracts work? Smart contracts are essentially a set of computer code that sits on top of a blockchain network. When a user initiates a transaction, the smart contract enforces the rules set forth in the code. The contract verifies the transaction, checks for the conditions that need to be met, and then automatically executes the terms of the agreement.
Benefits of smart contracts Smart contracts have several benefits over traditional legal contracts. They are more secure, transparent and efficient. Since they are stored on a blockchain network, they are immutable and cannot be altered or tampered with. They reduce transaction costs, eliminate the need for intermediaries and facilitate trust between parties.
Real-world applications Smart contracts have numerous real-world applications in various industries. They have been successfully implemented in supply chain management, asset tracking, financial transactions, real estate and healthcare. For instance, smart contracts could be used to track medical records, ensure the authenticity of documents, and automate the process of insurance claims.
Challenges and limitations of smart contracts Despite their potential, smart contracts face several challenges and limitations, including the need for a reliable and secure blockchain network, lack of standardization, and potential legal issues arising from code errors or unforeseen events.
Conclusion Smart contracts hold the potential to revolutionize the way we conduct transactions, simplifying the process of executing and enforcing agreements. However, they also face several challenges and limitations that need to be addressed before they can be widely adopted.
Written by AI (Artificial Intelligence)
The most traded coin
(Update every 1 hour)
| at | from | is ($US) | turnover ($) |
|---|---|---|---|
| 1 | BTC |
66,716.48 | 1,013,489,259.85 |
| 2 | ARS |
1,108.50 | 936,797,137.00 |
| 3 | ETH |
3,070.21 | 477,166,902.40 |
| 4 | SOL |
169.80 | 418,289,539.64 |
| 5 | BONK |
<0.01 | 192,700,270.34 |
| 6 | PEPE |
<0.01 | 182,343,162.60 |
| 7 | WIF |
2.49 | 164,161,715.31 |
| 8 | DOGE |
0.15 | 107,753,584.47 |
| 9 | FTM |
0.85 | 84,568,017.18 |
| 10 | RNDR |
10.15 | 70,778,595.89 |
| 11 | LINK |
16.83 | 69,163,747.72 |
| 12 | BOME |
0.01 | 68,862,391.50 |
| 13 | RUNE |
6.64 | 55,330,131.51 |
| 14 | NEAR |
7.77 | 54,532,257.65 |
| 15 | ENA |
0.70 | 52,230,856.39 |
| 16 | XRP |
0.51 | 51,037,197.69 |
| 17 | FLOKI |
<0.01 | 48,439,792.11 |
| 18 | ORDI |
39.63 | 46,819,522.82 |
| 19 | CREAM |
85.57 | 41,213,863.94 |
| 20 | BCH |
492.10 | 40,867,827.26 |
| 21 | RSR |
<0.01 | 40,578,980.83 |
| 22 | AVAX |
35.70 | 37,951,804.93 |
| 23 | PEOPLE |
0.04 | 36,387,125.27 |
| 24 | WLD |
4.77 | 34,627,833.85 |
| 25 | ICP |
12.67 | 30,661,157.33 |
| 26 | AEVO |
0.81 | 28,302,380.68 |
| 27 | BLZ |
0.28 | 28,095,317.79 |
| 28 | PYTH |
0.38 | 27,761,338.94 |
| 29 | FIL |
5.57 | 27,652,191.88 |
Coins with rapidly rising prices
(Update every 1 minute)
| at | from | is ($US) | more (%) |
|---|---|---|---|
| 1 | CREAM |
85.57 | +47.33 |
| 2 |  FARM |
77.29 | +14.50 |
| 3 |  OAX |
0.25 | +13.47 |
| 4 |  PHA |
0.20 | +9.61 |
| 5 |  POND |
0.02 | +8.01 |
| 6 |  BNX |
1.07 | +7.09 |
| 7 | BONK |
<0.01 | +6.93 |
| 8 |  OOKI |
<0.01 | +5.47 |
| 9 |  VIC |
0.44 | +4.96 |
| 10 | BCH |
492.10 | +3.21 |
| 11 | LINK |
16.83 | +3.09 |
| 12 |  AKRO |
<0.01 | +3.07 |
| 13 |  ASR |
3.79 | +1.99 |
| 14 |  KP3R |
76.41 | +1.65 |
| 15 |  ELF |
0.53 | +0.97 |
| 16 |  UNFI |
3.94 | +0.74 |
| 17 | RNDR |
10.15 | +0.64 |
| 18 |  PAXG |
2,401.00 | +0.59 |
| 19 |  HIVE |
0.32 | +0.54 |
| 20 | RSR |
<0.01 | +0.32 |
| 21 |  XEC |
<0.01 | +0.24 |
The price of coins is falling rapidly.
(Update every 1 minute)
| at | from | is ($US) | reduce (%) |
|---|---|---|---|
| 1 | PYTH |
0.38 | -13.96 |
| 2 | BLZ |
0.28 | -13.62 |
| 3 |  SAGA |
2.09 | -12.08 |
| 4 |  TNSR |
0.81 | -11.70 |
| 5 |  MANTA |
1.45 | -9.40 |
| 6 | ![Quickswap [OLD] title=](https://titdoi.com/coins-images-mini/QUICK-quick.webp){kind=small} QUICK |
0.05 | -8.90 |
| 7 | ENA |
0.70 | -8.49 |
| 8 |  STRK |
1.05 | -7.73 |
| 9 |  AUCTION |
13.71 | -7.62 |
| 10 |  LSK |
1.80 | -7.44 |
| 11 |  DIA |
0.47 | -7.35 |
| 12 |  TIA |
8.91 | -7.28 |
| 13 |  OMNI |
13.92 | -7.20 |
| 14 |  PIXEL |
0.34 | -7.16 |
| 15 |  MAV |
0.35 | -6.94 |
| 16 |  NFP |
0.44 | -6.46 |
| 17 |  GTC |
1.15 | -6.44 |
| 18 |  NTRN |
0.65 | -6.26 |
| 19 |  DCR |
19.77 | -6.26 |
| 20 |  POLYX |
0.42 | -6.21 |
| 21 | W | 0.53 | -6.15 |
| 22 |  MOVR |
13.94 | -6.14 |
| 23 |  CELO |
0.82 | -6.14 |
| 24 |  ZRX |
0.55 | -6.11 |
| 25 |  ACE |
4.59 | -6.08 |
| 26 |  HOOK |
0.78 | -6.08 |
| 27 |  FUN |
<0.01 | -6.04 |
| 28 |  DYM |
2.56 | -6.03 |
| 29 |  COS |
<0.01 | -6.02 |
| 30 |  REZ |
0.10 | -6.02 |
Bitcoin's Greed and Fear Index.
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US news that has a significant impact on the market
| at | news | day | date | time |
|---|---|---|---|---|
| 1 | Fed Chair Powell Speaks | Sunday | 19-05-2024 | 20:30 |
| 2 | FOMC Member Bostic Speaks | Monday | 20-05-2024 | 12:30 |
| 3 | FOMC Member Bostic Speaks | Monday | 20-05-2024 | 13:45 |
| 4 | FOMC Member Waller Speaks | Monday | 20-05-2024 | 14:00 |
| 5 | FOMC Member Barr Speaks | Monday | 20-05-2024 | 14:00 |
| 6 | FOMC Member Jefferson Speaks | Monday | 20-05-2024 | 15:30 |
| 7 | FOMC Member Mester Speaks | Monday | 20-05-2024 | 19:00 |
| 8 | Treasury Sec Yellen Speaks | Tuesday | 21-05-2024 | 09:00 |
| 9 | FOMC Member Waller Speaks | Tuesday | 21-05-2024 | 14:00 |
| 10 | FOMC Member Barkin Speaks | Tuesday | 21-05-2024 | 14:00 |
| 11 | FOMC Member Williams Speaks | Tuesday | 21-05-2024 | 14:05 |
| 12 | FOMC Member Bostic Speaks | Tuesday | 21-05-2024 | 14:10 |
| 13 | FOMC Member Barr Speaks | Tuesday | 21-05-2024 | 16:45 |
| 14 | FOMC Member Mester Speaks | Wednesday | 22-05-2024 | 00:00 |
| 15 | Existing Home Sales | Wednesday | 22-05-2024 | 15:00 |
| 16 | Crude Oil Inventories | Wednesday | 22-05-2024 | 15:30 |
| 17 | FOMC Meeting Minutes | Wednesday | 22-05-2024 | 19:00 |
| 18 | Unemployment Claims | Thursday | 23-05-2024 | 13:30 |
| 19 | Flash Manufacturing PMI | Thursday | 23-05-2024 | 14:45 |
| 20 | Flash Services PMI | Thursday | 23-05-2024 | 14:45 |
| 21 | New Home Sales | Thursday | 23-05-2024 | 15:00 |
| 22 | Natural Gas Storage | Thursday | 23-05-2024 | 15:30 |
| 23 | FOMC Member Bostic Speaks | Thursday | 23-05-2024 | 20:00 |
| 24 | Core Durable Goods Orders m/m | Friday | 24-05-2024 | 13:30 |
| 25 | Durable Goods Orders m/m | Friday | 24-05-2024 | 13:30 |
| 26 | FOMC Member Waller Speaks | Friday | 24-05-2024 | 14:35 |
| 27 | Revised UoM Consumer Sentiment | Friday | 24-05-2024 | 15:00 |
| 28 | Revised UoM Inflation Expectations | Friday | 24-05-2024 | 15:00 |
