The Meaning of Smart Contract
We’ve already mentioned The Smart Contract before. Smart Contracts provide a solution for executing commands on Blockchain network. These data can store, retrieve, and process data on the Ethereum Blockchain network and distribute code that cannot be modified once it has been deployed in the network.
A Smart Contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.
The ADFP (AIDUS Decentralized Fund Platform) decentralized fund market requires Smart Contract in order to perform complex fund transactions.
The fund market needs more features than just sending tokens. The distributed fund market requires Blockchain ledger to execute more complex transactions than the basic transmitting and receiving of value. The core competence of Ethereum is Smart Contracts, which provides the ability to extensively use the Blockchain ledgers.
This data includes the following information:
▶ About the contracted fund
▶ About the funding amount
▶ About the fund contracting party information
▶ About the fund schedule
The information mentioned above can be used to conduct mutual fund transactions between a trusted asset management company and the investor. However, we may need more than the above data when we want a viable solution for mutual fund dealings between investors and asset management companies that do not have information on the contracting counterpart.
Ethereum-based Smart Contract provides ecosystems that create transactions even without prior trust established between the parties. All transactions are performed using Smart Contract. That is, contracts (code) cannot be manipulated or tampered because the code runs on the Blockchain and the ADFP copies the information to multiple nodes.
Smart Contract is suitable for distributed platforms, and Smart Contract can handle complex transactions such as future payments, token transfers, and any kind of closing / redemption execution.
Moreover, Smart Contract also need to store information about investors on the Blockchain, so the information can be stored and categorized as there are important data for the fund contract on the Blockchain.
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