Features of Smart Contracts in DCI Ecosystem
Hello, Today we will talk about the various features of smart contracts in DCI Ecosystem.
Smart contracts are digital #algorithms or computer programs that facilitate, verify, or enforce the negotiation or performance of an agreement. The smart-contract describes a set of terms, which are automatically fulfilled by the network. All in one transaction!
๐ฆ๐บ๐ฎ๐ฟ๐ ๐ฐ๐ผ๐ป๐๐ฟ๐ฎ๐ฐ๐๐ ๐ต๐ฎ๐๐ฒ many ๐ฏ๐ฒ๐ป๐ฒ๐ณ๐ถ๐๐, such as:
โ๏ธ Immutability
โ๏ธ Openness
โ๏ธ Reduced complexity
โ๏ธ Security
โ๏ธ Autonomy
โ๏ธ Lack of human element (errors)
โ๏ธ Lack of intermediaries, which reduces the operational costs
DCI Ecosystem uses Smart Contracts to create automatically executable legal agreements between the parties.
The digital/smart contracts allow companies to enter into a contractual agreement without the need to rely on honesty from the respective counterparty involved in the transaction. The terms are embedded in the โdigital contractโ pre-ante the deal and the fulfilment of those contracts is made sure by the software code without the need to have any human interaction. This ensures that the #transactions are fast, low cost, and legally binding.
DCI ecosystem allows businesses & individuals to tokenize their securities using a smart contract that is defined and stipulated in compliance with the security regulations of the state or country where it is issued.
DCI Ecosystem in its target state will be fully decentralised and uses programmable smart contracts to allow DApps developed in EOS blockchain or integration with open APIs to external software providers.
โก๏ธ ๐ฅ๐ฒ๐ฎ๐ฑ more about the ๐ฏ๐ฒ๐ป๐ฒ๐ณ๐ถ๐๐ ๐ผ๐ณ the DCI ecosystem ๐ฎ๐ https://dciecosystem.com
