The conversation between human and AI assistant.
What other uses are there for the bitcoin blockchain?
That makes sense. What about smart contracts? How do they work on the blockchain?
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The decentralized nature of the blockchain allows these contracts to be securely and automatically executed without the need for intermediaries. This has the potential to greatly streamline certain industries and transactions.