What are smart contracts? - Crypto in Plain English - Episode 43 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it25 Nov 2021

What are smart contracts? - Crypto in Plain English - Episode 43 - by cryptohunt.it

What are Smart Contracts?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today, we talk about Smart Contracts: What they are and how they work.

Remember that blockchains like Ethereum are “programmable money”. They allow makers to create their own financial instruments, for example crypto currencies.

Smart contracts are the blockchain equivalent to real world laws, but they are impossible to violate.

In order to achieve that, these blockchains define what the functional building blocks are, so that the computers executing them are all talking the same language. Think of it like Lego: You can build anything with it, but the Lego company provides you with a bunch of literal blocks that you can put together any way you want.

A smart contract takes these building blocks and builds with them whatever the developers want to achieve. That could be simply moving money around between wallets, or also creating new money, or destroying some. A smart contract defines exactly how a crypto currency or any other financial instrument work.

And because the smart contract is executed on the blockchain, all instructions it carries are public and readable by anyone. They are also set in stone by design, meaning that everyone executing a transaction on a specific smart contract can expect the correct outcome.

So, that’s what a smart contract does. And next time we’ll debunk the myth that crypto is great for criminals, and you might be surprised to hear why.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Episoder(373)

What are the economics of mining Bitcoin? - Crypto in Plain English - Episode 53 - by cryptohunt.it

What are the economics of mining Bitcoin? - Crypto in Plain English - Episode 53 - by cryptohunt.it

What are the economics of mining Bitcoin? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk about what it takes to make money mining ...

9 Des 20212min

What is Coin Burning? - Crypto in Plain English - Episode 52 - by cryptohunt.it

What is Coin Burning? - Crypto in Plain English - Episode 52 - by cryptohunt.it

What is Coin Burning? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. In the last two episodes we explained how halving slows down the rate at which ...

8 Des 20211min

Is Bitcoin Halving a good thing? - Crypto in Plain English - Episode 51 - by cryptohunt.it

Is Bitcoin Halving a good thing? - Crypto in Plain English - Episode 51 - by cryptohunt.it

Is Bitcoin Halving a good thing? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk more about Bitcoin Halving: Why it was likely made...

7 Des 20211min

What is Bitcoin Halving? - Crypto in Plain English - Episode 50 - by cryptohunt.it

What is Bitcoin Halving? - Crypto in Plain English - Episode 50 - by cryptohunt.it

What is Bitcoin Halving? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk about Halving of Bitcoin. “Bitcoin Halving” refers to spec...

6 Des 20211min

What is Layer 2? - Crypto in Plain English - Episode 49 - by cryptohunt.it

What is Layer 2? - Crypto in Plain English - Episode 49 - by cryptohunt.it

What is Layer 2? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s understand what Layer 2 is. Layer 2 refers to blockchains that build on...

3 Des 20211min

What’s different between investing in crypto versus investing in stock? - Crypto in Plain English - Episode 48 - by cryptohunt.it

What’s different between investing in crypto versus investing in stock? - Crypto in Plain English - Episode 48 - by cryptohunt.it

What’s different between investing in crypto versus investing in stock? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk about the b...

2 Des 20212min

What is Miami Coin and why was it created? - Crypto in Plain English - Episode 47 - by cryptohunt.it

What is Miami Coin and why was it created? - Crypto in Plain English - Episode 47 - by cryptohunt.it

What is Miami Coin and why was it created? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, let’s talk about Miami Coin: What it is and why the...

1 Des 20212min

Is crypto going to replace real money? - Crypto in Plain English - Episode 46 - by cryptohunt.it

Is crypto going to replace real money? - Crypto in Plain English - Episode 46 - by cryptohunt.it

Is crypto going to replace real money? Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we discuss if crypto will ever replace traditional mone...

30 Nov 20211min

Populært innen Business og økonomi

lydartikler-fra-aftenposten
stopp-verden
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
livet-pa-veien-med-jan-erik-larssen
pengesnakk
utbytte
pengepodden-2
finansredaksjonen
okonomiamatorene
tid-er-penger-en-podcast-med-peter-warren
morgenkaffen-med-finansavisen
liberal-halvtime
lederpodden
rss-markedspuls-2
stormkast-med-valebrokk-stordalen
rss-politisk-preik
rss-pa-konto