The last few weeks have been particularly exciting for the Cardano Ecosystem. We witnessed a massive surge in the cryptocurrency’s price in anticipation of the arrival of Smart Contracts support, as the community anxiously awaited the deployment of the blockchain’s novelty feature. Now, it is finally here!
In today’s post, we’ll take a moment to introduce our less experienced community members to the concept of Smart Contracts, how they work and why they are such a big deal in the Crypto world.
What are smart contracts?
Described as self-executing contracts that carry the terms of buyer/seller agreements directly in their code and exist within distributed, decentralized blockchain networks, Smart Contracts control allow for trusted transactions or arrangements between anonymous parties, eliminating the need for legal systems, central authorities, or any king of external enforcement mechanisms.
Although their real-life application is somewhat recent, intelligent contracts were first introduced back in 1994 by Nick Szabo, who defined them as “computerized transaction protocols that execute terms of a contract” because Smart Contracts work on simple “if/when…then” statements, their applicability is virtually unlimited, and can be used in all kinds of different business areas for all types of use cases.
Developers can write smart Contracts, but nowadays, most organizations provide contract templates that make it easier for all users to take advantage of all the benefits they bring to blockchain technology.
Cardano Smart contracts
About one month ago, the creator of Cardano Charles Hoskinson announced a deployment date for Smart Contract support as one of the features of the highly anticipated Alonzo upgrade. The community received the announcement with immense excitement as it brings unprecedented functionality to the entire Cardano Ecosystem and pushes the already giant Blockchain even further.
During the first 24h, over 100 Smart contracts were added to the blockchain, proving once more how eager the community was for the deployment of this feature and how important it will become for the development of the entire Cardano Ecosystem.
About KICK.IO
Founded by a team of DeFi and traditional finance professionals,KICK.IO is the first Initial Decentralized Offering (IDO) launchpad and project accelerator to take full advantage of the Cardano (ADA) ecosystem. $KICK supports projects launched on the Cardano blockchain and offers full support for Cardano native tokens.
We focus heavily on the decentralization ethos that is so tightly upheld by the majority of the cryptocurrency community, ensuring that the funds raised on our platform are directly sent to the project founders and that the tokens generated are distributed to holders in the same fashion.
KICK.IO ensures you have access to the best projects with the best timing, allowing for higher potential returns.
To learn more about KICK.IO visit our Website and be sure to follow us on Twitter, Telegram, Announcement channel, and Medium. The project is currently in the private sale stage and inquiries can be sent here.
