🔹 Smart Contracts & Protocols

 🔹 Smart Contracts


Smart contracts are self-executing programs stored on the blockchain. They run automatically when predefined conditions are met, without the need for intermediaries.


✅ Key Features:


Automation: Executes agreements without manual intervention.


Transparency: Code and execution are visible on the blockchain.


Security: Tamper-proof once deployed.


Trustless: Removes the need for a central authority.


💡 Example:

On Ethereum, a smart contract could automatically release funds from a buyer to a seller once a product delivery is confirmed.


🔹 Protocols


Protocols in blockchain are rules and standards that govern how data is shared, validated, and agreed upon across the network.


✅ Key Roles:


Consensus Mechanism: Ensures all participants agree on the state of the blockchain (e.g., Proof of Work, Proof of Stake).


Interoperability: Defines how different blockchains or applications can interact.


Security & Privacy: Protects data and transactions from fraud or tampering.


💡 Examples of Blockchain Protocols:


Ethereum – supports smart contracts and decentralized apps.


Bitcoin – protocol for peer-to-peer payments.


Polkadot – protocol for cross-chain interoperability.


Uniswap – protocol for decentralized token swaps.


✅ In short:


Smart contracts = Applications (code that runs on blockchain).


Protocols = Rules/Infrastructure (framework that enables smart contracts & transactions).

Learn Blockchain Course in Hyderabad

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