Bridge smart contract development services

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What is a Smart Contract?
Blockchainx
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• A smart contract is a digital code that is used
  to exchange assets, including stocks, money or
  property, without the need for intermediaries.
• In technical terms, it is an automated or
  self-executing contract that contains the
  agreement between two parties embedded in code.
• The smart contract is distributed, decentralized
  and transparent as it runs on blockchain
  technology.
• The lack of intermediaries makes it an amazing
  concept as it can work automatically. The best
  comparison to this in the real world would be
  documents provided by lawyers.

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How Smart Contracts Work?

• In this section, we will take a closer look at
  smart contracts
• Vitalik Buterin at a DC Blockchain Summit
  described smart contracts as a way to transfer
  assets or currency in a program. He also added
  that the program executes the code based on the
  conditions defined in it. It does this
  automatically and checks the information based on
  the information it gets.
• The smart contract is Build a cross chain bridge
  executed when the condition is met.
• If the condition is not met, the smart contract
  will be executed based on the provided condition.
• One more important thing you mentioned is that a
  decentralized registry makes copies of the smart
  document or contract to establish immutability
  and security.

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Smart Contract Example

• The real estate sector is embracing blockchain.
  If in the distant future you decide to buy real
  estate using a blockchain-powered platform, then
  you can see smart contracts in action.
• There are many parameters that must be taken into
  account during a real estate transaction. For
  example, you must set loan amounts, payment
  terms, and other unique conditions.
• To activate the smart contract, you need to sign
  the smart contract and get it up and running.
• For example, you decide to pay 20 in advance of
  the value of the real estate property. After
  that, you decide to pay the rest of the value of
  the property in installments and other conditions
  that you may have.

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• The seller creates a smart contract based on the
  conditions discussed. The smart contract goes
  live once you both decide that everything is
  documented correctly.
• Over time, you will pay the installments and this
  will be recorded by the smart contract.
• Ownership transfers to you once all payment is
  transferred to the seller. Everything is done
  automatically without the intervention of
  intermediaries or parties.
• Compared to a real estate deal done through a
  traditional method, you will be able to save time
  and effort by completing the entire deal.
• Both the buyer and the seller save money as there
  are no middlemen.
• Additionally, the smart contract will notify all
  associated parties once an event occurs in the
  smart contract, including banks, buyers, sellers,
  and the insurer.

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A Technical Example of a Smart Contract

• After reading all this, you must be excited about
  the possibilities associated with smart
  contracts. Furthermore, to better understand what
  smart contracts can do and achieve, let's take a
  look at the smart contract powered by ethereum.
• To ensure proper handling of high-quality assets,
  it is important to include two more players
  besides the buyer and seller Appraiser and
  Inspector. The inspector is responsible for
  inspecting the assets before the buyer (Buyer)
  dapps development makes a purchase.
• The appraiser is on the seller's side. It makes
  assets considerable for buyers. It also makes it
  easier for the seller to sell.

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• It also contains various states to define the
  condition of the smart contract. Currently, the
  smart contract that we are going to discuss
  includes 10 states which include
• Active
• Offer placed
• pending inspection
• Inspected
• appraised
• notional acceptance
• seller accepted
• Accepted
• Finished

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