Smart Contract Platforms
A smart contract platform is a type of blockchain-based software system that allows users to create, execute and manage digital contracts. Smart contracts are self-executing agreements written in code, which are stored on the blockchain and can be used for various financial transactions. They enable faster, more secure transactions with fewer intermediaries involved.
Smart contract platforms use blockchain technology to automate processes such as payments, loan disbursement or other contractual obligations between two parties without the need for an intermediary such as a bank or lawyer. This eliminates any third party risk associated with manual paperwork processing and helps speed up transaction times while making them more secure at the same time.
The most popular smart contract platform is Ethereum (ETH). It was launched in 2015 by Vitalik Buterin and quickly became one of the most widely used blockchains due to its ability to support decentralized applications (DApps) built on top of it using its programming language Solidity. Other popular smart contract platforms include EOSIO, NEO, Cardano (ADA), Hyperledger Fabric and Tezos (XTZ). Each has their own unique features designed to meet different needs depending upon what kind of application you’re looking to build on top of them.
Overall, smart contract platforms offer developers a powerful way to create DApps that are more secure than traditional systems because they rely on immutable data stored on distributed ledgers instead of centralized servers where there’s always potential for hacking attacks or fraudsters taking advantage of loopholes in security protocols. They also allow users greater control over their assets since all transactions are transparently recorded on public ledgers where anyone can view them anytime they want through special explorers like Etherscan or Blockchair for example
