Smart Contracts

What are Smart Contracts on the Blockchain? Smart contracts are self-executing agreements consisting of the conditions of an arrangement amongst peers. The smart contract performs on the Ethereum blockchain's decentralized system. The contracts help with the exchange of cash, shares, residential property, or any type of asset. Watch our smart contracts video tutorial to find out what smart contracts are on the Ethereum network and how smart contracts work to perform complex sets of rules. Learn more about DeFi Yield Farming here Yield-Farming.org or go to our main website BEES.Social

Can Bitcoin Do Smart Contracts?

A lot of people don't know a lot about Bitcoin and smart contracts. For the most part, because the Bitcoin network is relatively constrained with three to four transactions per second globally, a lot of the smart contract activity are done on the lightning network connected blockchain that's connected to the blockchain network of Bitcoin.

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So most of the smart contracts for Bitcoin are running on the Lightning network. So if you're looking for smart contracts, if you're looking for information that runs across a network that allow you to do things in Bitcoin, you would definitely take a look at the Lightning network.

The Bitcoin blockchain is notoriously conservative. There's a tremendous amount of value being stored on that blockchain, there's not a lot of appetite for massive change. So that's why a lot of the changes in the innovations you see happening are off the Bitcoin blockchain and working back and forth with the Bitcoin blockchain. So that's the answer that we have based upon our research, there may be a vast amount of information that we haven't covered, because things are developing, and people will say that there are things that are happening on these blockchains.

But some of those things are in development and some of those things aren't real. So when we talk about things that are working, we're talking about things, we're talking about networks, we're talking about things that are being used by average consumers on a regular basis, or regular businesses on a regular basis.

So that's the net of blockchain, the blockchain of Bitcoin and smart contracts. Hopefully, that's helpful. I'm sorry, I can't give you a huge, comprehensive definition. Our expertise is more on the Ethereum blockchain, but people do ask about Bitcoin and smart contracts. And that's my answer.

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You can also watch this entire DeFi Yield Farming beginners guide video series in 3 parts

Part 1 - What is DeFi? - Decentralized Finance on the Blockchain
academia.edu/47790730/What_is_DeFi_Decentralized_Finance_Yield_Farming_Part_1
vimeopro.com/beessocial/yield-farming/video/524025857

Part 2 - Liquidity Pools - Different Types of Liquidity Pools in Balancer, Uniswap, Compound
academia.edu/47791357/DeFi_Yield_Farming_Liquidity_Pools_and_Liquidity_Providers
vimeopro.com/beessocial/yield-farming/video/524518979

Part 3 - What is Yield Farming? How do Yield Farmers Make Money?
academia.edu/47791963/What_is_Yield_Farming_Crypto_and_How_Do_Yield_Farmers_Make_Money
vimeopro.com/beessocial/yield-farming/video/530441914

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