How does a visible contract work in the world of digital currencies?

3 answers

• Dec 15, 2021 · 3 years ago
  A visible contract in the world of digital currencies is a smart contract that is publicly accessible and transparent on the blockchain. It allows all participants in a transaction to view and verify the terms and conditions of the contract. This transparency ensures trust and eliminates the need for intermediaries. The key benefits of a visible contract include increased security, immutability, and efficiency in digital currency transactions.
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• Dec 15, 2021 · 3 years ago
  A visible contract is like a digital agreement that is stored on a blockchain. It is visible to everyone on the network, and its terms and conditions are publicly accessible. This transparency ensures that all parties involved in a digital currency transaction can verify the contract's authenticity and enforceability. Visible contracts are designed to eliminate the need for trust in a transaction, as the terms are predetermined and cannot be altered once the contract is deployed on the blockchain.
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• Dec 15, 2021 · 3 years ago
  In the world of digital currencies, a visible contract is a smart contract that is publicly visible and accessible on the blockchain. It allows anyone to view and verify the terms and conditions of the contract, ensuring transparency and trust in digital currency transactions. Visible contracts are often used in decentralized finance (DeFi) applications to automate and enforce financial agreements without the need for intermediaries. By eliminating the need for intermediaries, visible contracts reduce costs and increase efficiency in the digital currency ecosystem.
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