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Transition to Web3 - Course 3 | How Smart Contracts Work

🎉 Congratulations—we have the building blocks of a decentralized computing system!

Let’s go over what we’ve done so far:

  • We wrote a code (“smart contract”) and put it into a block.
  • All nodes have a copy of this code since they have a copy of all blocks. This made our code “decentralized.”
  • If a user wanted to trigger our code, they had to let all nodes know. This trigger was also included in blocks! 
  • The nodes have their own virtual computer that allowed them to run the code before the trigger is mined and added to the blocks.
  • When the code was run, we had several outcomes like new transactions and states. These were also added in new blocks.

✍️ Summary: The code itself, its execution transaction, and all the results of the execution are now in a blockchain. Mind-blowing, right?

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