6 Characteristic of Smart contract: 👉 A program that runs on the Ethereum blockchain (mainly developed by friendly languages: Solidity or Vyper). Cannot be deleted, irreversible. Deploying into main net need pay gas (must be compiled before). 👉 Have a Balance + can send transactions over the network (as a type of Ethereum account). 👉 Define rules (like a regular contract) and automatically enforce them via the code. 👉 Can call other smart contracts in your own smart contract. Can't send HTTP requests to get information about "real-world". 👉Maximum of 24KB ( refer diamond pattern: https://eips.ethereum.org/EIPS/eip-2535 Standard for creating modular smart contract systems ). 👉 Could be require multiple valid signatures to execute a transaction (Avoiding single points of failure for contracts holding substantial amounts of ether or other token). It r equires N signatures out of M possible acceptable signatures (where N ≤ M, and M > 1). Example: With N = 3, M =
Think big, start small, move fast.