Blockchain Education: Smart Contracts | SafeMoon Birthday Video by Hypa | SafeMoon Gaming: Today's Event [WoW] - ⭐Tomorrow's Special Event [Rust] | Food For Thought | Reminders
Smart contracts are self-executing computer programs that automatically enforce and facilitate the terms of an agreement between parties. These contracts are built on top of blockchain technology, making their code secure and transparent while also reducing the need for intermediaries.
How do smart contracts work?
Here is a simplified overview of how smart contracts work:
A contract is written in code using a programming language such as Solidity.
The contract is deployed to a blockchain network such as Ethereum.
The contract code is stored on the blockchain providing immutability and transparency.
When the contract conditions are met, the contract executes automatically. For example, in the case that the smart contract is used for the transferring of assets when the condition is met, the transfer of the assets or payments is executed automatically.
Vending Machine Metaphor
In a document created by Ethereum.org, they used a vending machine as a metaphor to provide a basic understanding of how a smart contract works.
“A simple metaphor for a smart contract is a vending machine, which works somewhat similarly to a smart contract [in which] specific inputs guarantee predetermined outputs.
You select a product.
The vending machine returns the amount required to purchase the product
You insert the correct amount
The vending machine verifies you have inserted the correct amount
The vending machine dispenses the product of choice
The vending machine will only dispense your desired product after all requirements are met. If you don't select a product or insert enough money, the vending machine won't give out your product.” (Ethereum.org)
Smart Contract Applications
Smart contracts have a wide range of applications across various industries, including finance, real estate, healthcare, supply chain management, and more. Here are some examples:
Smart contracts can be used to automate financial transactions, such as loans, insurance claims, and investment agreements. For example, a smart contract could be used to automatically execute a loan agreement when the borrower meets certain conditions.
🏠 Real Estate:
Smart contracts can be used to streamline the process of buying and selling property, reducing the need for intermediaries such as real estate agents and lawyers. For example, a smart contract could be used to automatically transfer ownership of a property when the buyer's payment is received.
Smart contracts can have several potential applications in healthcare, such as insurance claims, clinical trials, drug supply chains, and more. For example, a smart contract could be used to automatically track the movement of drugs from the manufacturer to the pharmacy, ensuring that they are not counterfeit or tampered with.
🚚 Supply Chain Management:
Smart contracts can be used to track the movement of goods and automate the payment process. For example, a smart contract could be used to automatically release payment when a shipment of goods is delivered and verified.
How do you create a smart contract?
Creating a smart contract requires programming skills and knowledge of blockchain technology. Here are the general steps:
Choose a blockchain network to deploy the smart contract.
Write the smart contract code using a programming language such as Solidity.
Test the smart contract to ensure it operates as intended.
Deploy the smart contract to the blockchain network.
Monitor the smart contract to ensure it operates correctly and make any necessary updates.
Overall, smart contracts have the potential to revolutionize the way we conduct business and interact with each other. They offer a secure and transparent way to automate complex processes, reducing the need for intermediaries, and have the potential to save time and costs for businesses and individuals.
"Smart Contracts" Ethereum. https://ethereum.org/en/developers/docs/smart-contracts/ Accessed Date: 19 March 2023.
“What Are Smart Contracts and How Do They Work” Decrypt.
https://decrypt.co/resources/smart-contracts Accessed Date: 19 March 2023.
“Smart Contracts In Blockchain” Imaginovation.
https://imaginovation.net/blog/smart-contracts-in-blockchain/ Accessed Date: 19 March 2023.
“The Role of Smart Contracts in the Government Sector” Scand.
https://scand.com/company/blog/the-role-of-smart-contracts-in-the-government-sector/ Accessed Date: 19 March 2023.
🎈SafeMoon Birthday Tribute
🎮 SafeMoon Gaming
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🗓️Today's Event: World of Warcraft
Join the SafeMoon Gaming community in playing some WoW at 3 pm MDT | 5 pm EST | 10 pm GMT today!
Credit to Blizzard Entertainment
⭐🗓️Tomorrow's Event: Rain of Fire Day (Rust)
Tomorrow March 22nd, the SafeMoon Gaming team will host a special event on the SafeMoon Rust server! This special event will last all day! Be prepared for chaos, and don't miss out!
March SafeMoon Gaming Event Calendar
💭 Food For Thought
"A poor leader will tell you how many people work for them. A great leader will tell you how many people they work for."
- Simon Sinek
"Love is misunderstood to be an emotion; actually, it is a state of awareness, a way of being in the world, a way of seeing oneself and others.”
- Dr. David Hawkins
According to a study published in the journal Psychological Science, maintaining a positive mood can enhance creative thinking in the human brain. Participants who watched cheerful videos and listened to upbeat music reported feeling happier and demonstrated better performance in classifying patterns. These findings suggest that intentionally focusing on positive emotions may help facilitate creative thinking processes in the brain.
Association For Psychological Science
SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. The latest issue of the SafeMoon Pulse is now available, covering all the important information from the month of January 2023.
Let's recap the month of January! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
CEO John Karony gave a quick update on the SafeMoon blockchain explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible