Introduction to the development function of blockc
Blockchain is a distributed database. Any party can access the whole database and its complete history. The records cannot be changed. They are linked to each transaction record before them (so called "chain"). Different algorithms are used to ensure that the records in the database are permanent, sorted in chronological order, and accessible to all other nodes on the network; the security performance of contracts based on blockchain technology is equivalent to strong.
The advantages of smart contract, smart contract app, can be roughly divided into the following aspects:
1. Transparency and accuracy. Smart contracts allow the terms and conditions of these contracts to be fully accessible and visible to all interested parties. While the content is open and transparent, it cannot be changed.
2. With high security, the smart contract adopts the highest level of data encryption currently available, which is the same as the encryption technology used in cryptocurrency.
3. High efficiency, relatively fast speed, smart contract exists on the Internet, and runs on the software code. As a result, they can execute transactions very quickly. Compared with traditional business processes, this speed can save a lot of time.
4. Storage and backup. Smart contracts are used to record important details of each transaction. Therefore, no matter where personal details are used in the contract, they are permanently stored for future reference.
5. Guaranteed results, smart contracts, by using automated contracts, these parties promise to operate according to the rules of the underlying code.
6. It can run permanently. As long as the smart contract runs, the network nodes on the chain will maintain it together. As long as the chain is still running, it can run permanently.