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Importance of smart contracts in the DeFi system.


A cordial greeting to all readers of this great platform, in the present opportunity I want to share with you information related to DeFi projects, specifically the importance of smart contracts that can be generated in these systems, which allow us in a very safe way to acquire goods in the blockchain without any risk and without the use of intermediaries.


Screenshot taken at: PixaBay



The development of the blockchain in general, since the appearance of Bitcoin has been evolving by leaps and bounds, which has generated constant changes and adjustments in this world, in order to improve the quality of the decentralized economy and the reliability that people can have in the projects that are generated in the blockchain, including the DeFi platforms, where many people still distrust but are quite safe.

When dealing with smart contracts, they can be considered as computer programs, which are intended to establish conditions to execute an action, which is executed automatically, once the conditions established by both parties are specified, and best of all without the intervention of intermediaries in the process.



When we talk about this type of contracts related to DeFi, through them there is a large amount of blocked resources complying with the established conditions of the same, which is considered as a fundamental support of the Blockchain, being this type of contracts of great importance for the durability of projects and for the execution of transactions that can generate confidence to investors.

Focusing its importance in the previous paragraph, we can determine that the great need for the existence of this type of contracts is the security and confidence of the projects, so it is necessary that day by day they have greater security for the realization of these contracts, so it is necessary to improve them over time.

Currently, there is a DeFi project called WoxDeFi, where we can see examples of these smart contracts when generating a process in it, if you want more information about it I invite you to consult their official website, https://woxdefi.app/ in order that they can socialize with a DeFi project and the application of smart contracts through the Stake.





All the images used by the Author @Chucho27 are Public Domain, in each one of them you can find the source of the image.
The image of the Banner at the bottom, is in the public domain obtained from: PixaBay


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