Cardano (ADAUSD)

[The_Pro]

Here's a great example of a smart contract vis a vis Cardano implementation:

To understand how useful smart contracts can be, take a look at the following example.

Chris wants to buy some insurance on his flight

If his flight is delayed or canceled, he gets a full refund

If the flight is on time, he loses his insurance fee

Chris enters into a smart contract by depositing the fee

Once the flight departs, the smart contract can scan thousands of independent websites to find out the exact time it left off

If it left on time, John automatically loses his insurance fee

If it was delayed or canceled, then he automatically receives a full refund

All of this was possible without a third party, using a smart contract agreement

The above example could be applied to hundreds of different scenarios. By removing the need for a third party, contract agreements are faster, cheaper and more efficient.

HERE'S THE FULL, IMMERSIVE EXPERIENCE:

https://www.bitdegree.org/crypto/tutorials/cardano-vs-ethereum