I read on one of the articles at deep onion by RedOnions: https://deeponion.org/community/threads/article-what-do-you-need-to-know-about-deeponion-for-starters.20090/#post-305825, about the upcoming features of deep onion by next year
“THE SMART CONTRACTS”
If this feature of the will be added, together with Deep Vault, I’m absolutely certain that Deep Onion will be far more powerful than any other coins on the crypto world.
What is a Smart Contracts?
Smart Contracts feature on coin is the ability to create an agreement or contracts about assets, property, money, stocks shares and anything that has value. The contracts are written in computer codes, then run on blockchain platform. These smart contracts do not need a third party to run it. The program checks if all criterias are met before executing it. Duplications are done inside the blockchain. Since blockchain is a superb encrypted platform, nobody can hack it.
Ethereum and bitcoins have these features on their coins but you have to pay for it to use those smart contracts.
New Coins have smart contracts
Since technology is so fast. New Altcoins rush on the smart contracts features, applying the feature on their coin and marketing the coin. We will see a lot of new coins and old coins incorporating these features on them.
The Advantages of the Smart Contracts
- No Third parties needed, so you don’t have to include a third party presence to execute it.
- Since the smart contracts are run on blockchain, it is totally encrypted. Hack proof as they say. Safe.
- All agreements on the contracts should be met, so that the program will be executed.
- Once all agreements are met, parties involve can automatically run the contracts immediately then these contracts are duplicated numerous time on the blockchain for multi copy.
- Parties involve have all the privileges of seeing the contracts, with transparency.
These new features on the coins is so powerful that even banks all over the world are rushing into these technology at blockchain.
I really hope that this feature will be added on the deep onion coin.
Visit us at Deep Onion: https://deeponion.org/
