XinFin’s XDC Hybrid Blockchain Smart Contract Theory Behind

Smart Contract Mechanism on XinFin Hybrid Blockchain

What is Smart Contract

  • A smart contract is a protocol which can auto-execute, facilitate, verify, or enforce the negotiation of a contract.
  • Agreement between two parties you can say as a contract.
  • Incorporating the rules of the physical contract into the computing world, you can say as a smart contract
  • XinFin Hybrid Blockchain supports you to create smart contracts.
  • Smart Contracts are self-executing programs which run on the XinFin Hybrid blockchain and are capable of enforcing rules
  • Using XinFin Hybrid Blockchain as a platform and making an agreement or contract between more than two parties, you can say as Smart Contract.

Traditional Markets

Top Benefits of Smart Contract

  1. Currently, smart contracts are being used only in Crypto Currencies
  2. Now Smart Contracts being used in all financial transactions
  3. A smart contract can then raise funds for the foundation to complete a certain objective
  4. The primary benefit is to avoid middlemen and to avoid fraud and cheating in the business world

Smart Contract-Based Markets

When Smart Contract Initiated

  • Smart contracts are self-executed programs. So they run automatically whenever they need it.
  • Each Smart contract in the XinFin Hybrid Blockchain is stored in a Block.
  • Smart contracts have the following capabilities-self-execute, self-verify, self-enforce, and self-constraint the agreement between two parties.

How many smart contracts are present on XinFin Hybrid Blockchain

  1. You can create ’N’ number of smart contracts on XinFin Hybrid Blockchain
  2. Smart Contract Manager oversees all the transactions created on a XinFin network such that it avoids any fraud or cheating.

Summary

  1. XDC Mobile Wallet: Mobile based wallet to Send/Receive Stable coin Tokens
  2. XINPAY: Web based Wallet to Send/Receive Stable coin Tokens
  3. XDC Remix: XDC Remix is a powerful, open source tool that helps you write Solidity contracts straight from the browser.

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