What does decentralization of smart contracts mean (smart contract approval)
What does decentralization of smart contracts mean? In the blockchain field, the so-called “smart contract” refers to a set of smart contract systems created, issued and managed in the form of Computer code. Among them, the term “smart contract” is a numerical representation representing the ownership of a specific type of asset, and this entity does not have control power related to it. That is to say, the term ‘smart contract’ can be used as the basis for various virtual goods or services, such as real estate or items in games However, due to its non tampering nature, its uncertainty and volatility risk have also become a problem. Because the smart contract itself is not entirely owned and operated by a single person, it is not manipulated by a third party; On the other hand, the developers of the protocol have no responsibility in determining which tokens can be used for payment and how the trading platform handles these tokens
Smart Contract Approval
According to Bitcoin Exchange Guide, Smart Contract Approval recently released a report. The project was led by a16z, followed by Andreessen Horowitz (A16Z) and Blockchain Capital to join the ecosystem. It is reported that a16z has been focused on the development of blockchain technology in the past year, but has fallen behind due to the lack of a strong team to lead and collaborate with to achieve this goal. The company believes that this will be a difficult decision as it may lead to a huge failure. But if it proves to be a feasible and constructive approach, then it cannot avoid any potential impact, especially for those who hope to provide momentum for the encryption industry.
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