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Understanding Smart Contracts Ethereum Bordered

The document discusses smart contracts, which are self-executing contracts with terms written in code, primarily on the Ethereum blockchain. It highlights their benefits, such as automation, transparency, and cost efficiency, while also addressing challenges like code vulnerabilities and scalability issues. The conclusion emphasizes the transformative potential of smart contracts across various industries and the need for future improvements in the technology.

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bookkeyfi
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0 views

Understanding Smart Contracts Ethereum Bordered

The document discusses smart contracts, which are self-executing contracts with terms written in code, primarily on the Ethereum blockchain. It highlights their benefits, such as automation, transparency, and cost efficiency, while also addressing challenges like code vulnerabilities and scalability issues. The conclusion emphasizes the transformative potential of smart contracts across various industries and the need for future improvements in the technology.

Uploaded by

bookkeyfi
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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BLOCKCHAIN TECHNOLOGY

Assignment 2

Presented by

KATHIRVEL V
2023271012
Understanding Smart Contracts
and Their Role in Ethereum
A Presentation by Caliburn
Introduction to Smart Contracts
• • A smart contract is a self-executing contract
with terms written in code.
• • They run on blockchain networks, ensuring
security and transparency.
• • First introduced by Nick Szabo in the 1990s,
popularized by Ethereum.
How Smart Contracts Work
• • Written in programming languages like
Solidity.
• • Deployed on blockchain and executed
automatically when conditions are met.
• • No need for intermediaries, reducing costs
and risks.
Benefits of Smart Contracts
• • Automation: Executes without manual
intervention.
• • Transparency: Publicly accessible on
blockchain.
• • Security: Tamper-proof and encrypted.
• • Cost Efficiency: Reduces third-party costs.
Ethereum and Smart Contracts
• • Ethereum is the most popular blockchain for
smart contracts.
• • Uses Ethereum Virtual Machine (EVM) to
execute contracts.
• • Smart contracts power decentralized
applications (DApps) and DeFi.
Use Cases of Smart Contracts
• • Decentralized Finance (DeFi)
• • Supply Chain Management
• • NFTs and Digital Ownership
• • Voting Systems
• • Identity Verification
Challenges and Limitations
• • Code Vulnerabilities: Bugs can be exploited.
• • Scalability Issues: Ethereum faces high gas
fees.
• • Legal and Regulatory Concerns.
• • Irreversibility: Transactions cannot be
changed once executed.
Conclusion
• • Smart contracts revolutionize industries by
automating transactions.
• • Ethereum remains the leading platform for
smart contracts.
• • Future improvements in scalability and
security will enhance adoption.
THANK YOU

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