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Roronoa Zorro
@roronoazorro
Mysterious smart contracts in Web3 Imagine that you have a simple agreement with your friends. You lend a friend $100 and agree on a repayment date. If your friend doesn't pay on time, you'll take action as agreed upon (e.g. interest or recovery). In this case, a bank or lawyer may step in to ensure that the agreement can be executed smoothly. In a traditional contract, the terms of the contract are agreed upon by both parties, and a third party, such as a bank or lawyer, helps to monitor and ensure that both parties are complying with the agreement. If one of the parties defaults, the third party takes action.
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