What does Ethereum contract mean?

Ethereum contracts are computer programs stored on the Ethereum blockchain that allow developers to build decentralized applications that cannot be changed after they are created. They are decentralized, secure, transparent and automatically executed and can be used for smart applications. Areas such as asset management, supply chain management, voting and elections, decentralized finance, and games and entertainment.

What is an Ethereum contract?

Ethereum contracts are computer programs stored on the Ethereum blockchain. They allow developers to build decentralized applications that enforce the terms of contracts without intermediaries.

How do Ethereum contracts work?

1. Creation: Contracts are created by developers using programming languages ​​like Solidity.
2. Deployment: The contract is deployed to the Ethereum network and assigned a unique address.
3. Execution: Execute when the contract receives a transaction, which triggers the code in the contract.
4. Immutable: Once deployed, a contract is immutable, meaning the code cannot be changed.

Features of Ethereum contracts:

• Decentralization: Contracts are stored on a distributed blockchain rather than controlled by a single entity.
• Security: Contract code is stored encrypted and protected through the blockchain network.
• Transparency: All transactions and data of the contract are publicly recorded on the blockchain.
• Automatic execution: The contract automatically executes the contract terms according to pre-defined rules.

Uses of Ethereum Contracts:

• Smart Asset Management: Manage financial assets such as governance tokens and stocks.
• Supply Chain Management: Track the entire process of goods from production to delivery.
• Voting and Elections: Provide a secure and transparent voting system.
• Decentralized Finance (DeFi): Create lending platforms, stablecoins and decentralized exchanges.
• Games and Entertainment: Enables ownership and trading of virtual assets.

Ethereum market status:

As of 18:00 on July 1, 2024, the price of Ethereum is $3464.82, with a transaction volume of $10.63 billion. Its price has increased by 2.5% in the past 24 hours.

Ethereum has 120 million tokens in circulation, giving it a circulating market capitalization of $416.4 billion. It also has an unlimited total supply, meaning more tokens will be issued over time. It is worth noting that the price of Ethereum is highly sensitive to factors such as market conditions and news announcements, so its value can fluctuate significantly over time.

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