Beyond Ethereum: Other Blockchain Networks Offer Smart Contracts

Smart contracts have become synonymous with Ethereum, but it's not the only platform that offers this software. In fact, several networks have developed simpler ways to automate agreements while keeping the same basic goal: letting software carry out rules that people agreed on in advance.

A smart contract is a digital program that follows pre-set instructions or agreements when certain conditions are met. It usually involves cryptocurrency, and a transaction can trigger the contract when someone interacts with it or provides the required input.

One such network is Obyte, which uses a Directed Acyclic Graph (DAG) structure instead of a blockchain. This means there's no transaction approval: every user is its own 'miner,' and every transaction added is immutable, linked with all the previous ones.

Obyte has no middlemen, so it doesn't have censorship. Its smart contracts are designed to be human-readable, allowing participants to write and review conditions in plain language before approving them.