A decentralized computer system

Adding code into blocks

Adding code into blocks - Demo

Triggering smart contracts

Triggering smart contracts - Demo

Trigger transactions are added to the next block

Trigger transactions are added to the next block - Demo

Miners execute the code when mining

Miners execute the code when mining - Demo

Virtual machines run the code

What does it cost to run smart contracts? 

Transaction fees - Demo

What happens when the code is executed?

1️⃣ Smart contracts creating a new transaction - Demo

2️⃣ Smart contracts updating the state - Demo

Recap

Big picture: advantages of decentralization

Big picture: what is possible with smart contracts?

Big picture: limitations of smart contracts

1 Section

Transition to Web3 - Course 3 | How Smart Contracts Work

🧠Reminder: For new blocks to be added to the blockchain, they need to be mined.
After the triggers to execute smart contracts go into a block, miners incorporate the block into the mining process.
Miners execute the code (“smart contract”) and then mining takes place. This is how codes are executed in blockchain! After the code is executed, mining starts, and the block is created.