Smart contract yo_Anuj thakur B-47.pptx

About smart contract in python

1. Understanding Smart Contracts 7th semester(Section : B) Subject : Blockchain & its Applications presented by: Ashhar Siddiqui - 42 Anuj Thakur - 47 Ayush Thakur - 48 

2. Introduction to Smart Contracts What are Smart Contracts? Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute actions and enforce the terms of the agreement without the need for intermediaries. How do Smart Contracts Work? Smart contracts run on a blockchain network, such as Ethereum, which ensures transparency, immutability, and security. Once the conditions specified in the contract are met, the contract is automatically executed.

3. Benefits of Smart Contracts Efficiency: Smart contracts automate processes, reducing the need for manual intervention and paperwork. Transparency: All parties involved can view the contract and its execution on the blockchain. Security: Smart contracts are tamper-proof and resistant to fraud. Cost Savings: By eliminating intermediaries, smart contracts reduce costs associated with traditional contract enforcement.

4. Types of Smart Contracts Ethereum Smart Contracts: Built on the Ethereum blockchain, these contracts use the Solidity programming language. Custom Smart Contracts: Developed to meet specific business requirements and use cases. Oracle-Based Smart Contracts: These contracts use external data sources, called oracles, to interact with the real world.

5. Purpose of Smart Contracts Efficiency Smart contracts automate and streamline processes, reducing the need for intermediaries and manual intervention. This improves efficiency and eliminates the potential for human error. Trust-building Smart contracts are transparent and immutable, creating a high level of trust between parties. The terms and conditions of the contract are written in code and cannot be altered without consensus. Security Features Smart contracts are secured by blockchain technology, making them resistant to hacking and fraud. The decentralized nature of blockchain ensures that the c ontract is stored across multiple nodes, making it highly secure .

6. Benefits of Smart Contracts Efficiency: Automate processes and reduce manual errors. Transparency: All parties have access to the same information. Security: Transactions are recorded on a decentralized ledger. Cost Savings: Eliminate intermediaries and reduce transaction costs.

7. Future Outlook and Opportunities Continued adoption of smart contracts in various industries. Integration with Internet of Things (IoT) and Artificial Intelligence (AI). Development of interoperable smart contract platforms. Exploration of new use cases and applications.

8. Conclusion Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automate processes, eliminate intermediaries, and ensure transparency and security.

9. THANK YOU