What are smart contracts?
Smart contracts are lines of code that are stored on a blockchain and automatically execute when predetermined terms and conditions are met. At the most basic level, they are programs that run as they’ve been set up to run by the people who developed them. The benefits of smart contracts are most apparent in business collaborations, in which they are typically used to enforce some type of agreement so that all participants can be certain of the outcome without an intermediary’s involvement.
Some benefits of smart contracts
- Speed and accuracy
Smart contracts on crypto wallets
A crypto wallet that interacts with smart contracts is called a smart contract wallet. In other words, these wallets enable different types of activities such as buying or selling tokens, token exchange, dapp interaction, trade, borrow or lend, etc.
Features of a smart contract wallet:
- Borrow and lending crypto assets using different money protocols
- Token sell, buy, exchange or trading
- Enabling interactions with different Dapps
We are going to deploy and apply smart contracts on Crystal wallet in the near future to develop and bring best services to our users.
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