Smart Contracts

Smart contracts on Everscale

A smart contract is a program that is kept and executed on a blockchain. The results of executing smart contracts are verified and confirmed by many nodes of the network, thus ensuring end-to-end decentralization, as well as the stability of calculations to errors and malicious attacks.
Blockchain networks that are suitable for running smart contracts can be classified in a multitude of ways. One of the most important distinction is between public and permissioned blockchains. In public and permissionless networks such as Everscale, anyone can become a validator and participate in the network's consensus model and transaction verification. In permissioned networks, also called consortium blockchains, all transactions are validated by a rigid set of validators. This improves the scalability of the network and makes the reversal or retroactive alteration of transactions possible, but makes the blockchain partially centralized.

Everscale smart contracts

In the Everscale network, the implementation of smart contracts is conceived in a universal way. As a result, all wallets and the implementation of any additional logic in general, is a smart contract, unlike many other blockchains of previous generations. Also, all interactions between smart contracts are asynchronous (unlike, for example, Ethereum), which is essential for scaling the network performance.
An important property of the Everscale network is that any actions of the network to process a smart contract burn a small number of tokens, which is a protection against abuse and DDoS attacks. As a result, it quickly becomes very expensive and unprofitable for the attacker to create a sufficiently high workload for a DDoS attack.
You can read more about smart contracts in Everscale at this link.
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