31/10/2022
How does a smart contract work
The operation of a smart contract is similar to other blockchain transfers. These are the necessary steps:
1. A user initiates a transaction from their blockchain wallet.
2. The transaction arrives at the distributed database, where the identity is confirmed.
3. The transaction, which may be a transfer of funds, is approved.
4. The transaction includes the code that defines what type of transaction is to be executed.
5. The transactions are added as a block within the blockchain.
6. Any change in contract status follows the same process to be updated.
