What are Smart Contracts in Crypto? (4 Examples + Animated)

Are you wondering what a Smart Contract is? Well, a smart contract is an agreement between multiple people who agree that a piece of code will be executed if certain conditions are met. Right now, I know of 4 main use cases for Smart Contracts, and they are:

1) Flash Loans

2) Insurance

3) Token Switching (Decentralized Exchanges)

4) Buying and Selling real world representations

Watch our animated video on Smart Contracts to understand how each of these examples currently work and what their potentials are in the future!

Join our exclusive discord community:

Explore More Whiteboard Crypto:
Facebook: @whiteboardcrypto
Instagram: @whitreboardcryptoteam

[mariahhayes]

Once you actually start trading live and start to have profitable weeks/months. This kind of video will really start to make sense. So if you don't think it's helping you now, just come back when you're knocking on the door of consistently profitable.

[Tupsx]

Thank you for the explanation. Note that lawyers are not only hired to contest contracts. They are primarily used to review contracts prior to signing to ensure that the contract terms are as represented.

[stevenpaul]

Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.

[JorgeRodriguez]

I've been reading about crypto since last year, and you just made it look so simple about the whole variety of possibilities in the cryptoworld. Amazing work and please keep doing this!

[Pyroscheme-]

Learned a lot. Helps to stop and repeat the information out loud to myself like I’m teaching. Thanks for the video.

[Bireshprema]

“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”

[jonnyleverage]

This video, along with all the others of yours that I've watched is awesome! You truly have a gift for explaining these complex concepts in simple terms. Keep up the great work!

[diving_element]

Mate. Listen. Don't ever stop making these videos and don't ever let this high quality content go to waste! Your work = awesome!

I am seriously intrigued and impressed by your technical knowledge and your ability to explain it in a way that everybody can understand it!

Thanks for doing what you are doing!

[delmontee]

This is the first video about digital contracts that makes complete sense, thanks!

[davidharry]

What is the best strategy to enter crypto trading now for someone with more or less than $6000 to invest?

[VictoriaLisa]

Watched the whole video great job my portfolio is diverse, with investment in digital currencies, gold silver, but not as much as I want.would like to add a lot of low cap altcoins too, just not sure how to go about it or where to buy the coins. Diversifying my $420k portfolio across the market to withstand inflation is my goal can you help me?

[bahadoorshanoorbasha]

Pictures+Words give clarity than just words....these videos are the fastest way to learn crypto....Best I had seen. Thanks for the hard work put in.

[marshmelows]

This is really well explained, the drawn examples are fundamental, the script is good too! Thanks a lot!

[realdeepthinker]

Amazing content. Thank you for making this!

[toughrunmetaldetecting]

This was very informational. Thanks for making it. I searched for a more recent video explaining SCs since I didn't know how they worked. Glad I found yours. Will peruse your other videos as well.

[hycePT]

Wow, it couldn't be explained any better. Great work

[itscharlesmedia]

Damn! Excellent explanation. Definitely deserve a sub. I hope you make quick review of the tokens as well like XRP, etc. What they do, their use cases etc.

[gckvcdj]

This is much better explanation than the other two I just watched. Among the examples, I feel the insurance one makes the most sense. But only if the contract allows the insurance company bankrupt and not paying everyone in the worst case, otherwise seems hard to work for me. Like what if insurance wants to invest with the money it has, that’s the way insurance makes money right. Anyway, it probably will work after resolving the nuance, smart contract does sound very promising for a lot of stuff. But don’t overrate it either, I just heard in another video every achievement human made so far would be pale in comparison to smart contract, 🤔, ok I’ll stop being cynical here, she still has chance to be right

[sophieberen]

Hello Mrs Jane is legit and her method works like magic I keep on earning every single week with her new strategies

[RehamTaay]

I’ve been watching and rewatching all of your videos ever since I got into crypto [few weeks ago] and now I’m sending it to all my fellow nerdy friends too. Keep up the good work guy(s)!!