✨ Ethereum Network and Smart Contracts Simplified ✨
---
🔷 What is the Ethereum Network?
It is an open-source blockchain platform that supports the creation of decentralized applications (DApps) 🚀.
The ETH currency is used as fuel (Gas) to execute transactions and run smart contracts ⛽️.
It is characterized by fast transaction confirmation and expanding use in areas such as decentralized finance (DeFi) and gaming 🎮.
---
🖋️ Smart Contracts Simplified
1. 📜 Definition: A piece of software that executes automatically when predefined conditions are met.
2. 🤝 How does it work?
The conditions are written (for example: “If the USDT payment reaches my account, release the NFT to the client”).
The contract is deployed on the Ethereum network.
Once the condition is met, the network automatically executes the contract without an intermediary.
3. 🔐 Advantages:
Transparency: The code is publicly auditable 👀
Security: It cannot be manipulated after deployment 🛡️
Saving on intermediaries and high commissions 💸$ETH
---
❓ To interact with the readers
1. 👉 Have you tried dealing with a smart contract before?
2. 👍 If you liked the explanation, share a comment saying “ETH”
3. 🚀 What is the most used DeFi application on the Ethereum network?
---
💡 Why does it matter to you?
Smart contracts change the way we deal with money and contracts without banks or lawyers.
With the expansion of DeFi and NFTs, understanding this foundation gives you an edge in trading and investing.
---
🔗 For more: follow me for daily articles and in-depth analyses on cryptocurrencies!