Web Design Agency based in Houston that specializes in Websites design, SEO, Digital Marketing, Mobile Apps Development, Blockchain Solutions, and others.

2502 La Branch St, Houston, TX 77023
+1(713)367-1232‬
support@bereshkaweb.net

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What are Smart Contracts in simple words

You all heard about Bitcoin, Ethereum is the second-largest cryptocurrency with a capitalization of over $44 billion. It's not just a currency, it's actually a platform where everyone can create blockchain Apps. This platform has its own cryptocurrency that calls Ether and that is what users pay for transactions. Ether is like gasoline to make transactions happen. It's clear about ether, but what do smart contracts do?

bitcoin blockchain

Blockchain + Lightning Network

You probably already heard about blockchain, bitcoin, cryptocurrencies, and other related terms. Let's clarify first of all what is a difference between Blockchain and Bitcoin, as not everybody may understand it yet. Blockchain is a growing list of records, called blocks, which are linked using cryptography, it's a digital ledger of transactions. Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. Bitcoin is built on the blockchain, there are a lot of other cryptocurrencies, but Bitcoin is the most famous and as far the most popular.