That's a great explanation. I'm sure it's a lot deeper than that but I've never really understood the purpose. I'm not a crypto guy at all so it's nice hearing real world applications rather than just "stock market babble".
Smart contracts are actually pretty cool, but the entire ecosystem is made dramatically worse by the tokens having speculative value. It’s necessary for the economics to work out, but it dampens the coolness of the technical aspects because it attracts sleazeballs and enables fraud/crime.
Smart contracts are actually pretty cool, but the entire ecosystem is made dramatically worse by the tokens having speculative value. It’s necessary for the economics to work out, but it dampens the coolness of the technical aspects because it attracts sleazeballs and enables fraud/crime.