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What is Smart Contract Development?
The more tokens are generated, the higher the price becomes due to the algorithm and so does the fee that is supposed to be generated in the wallet. The process is controlled with a smart contract. Mainbase regulates the fees generated from all wallet addresses created in Etherscan or the Decentralized Exchanges. When a wallet shows $6.50, the user receives the MBASE. If the price of the MBASE increases due to the algorithm, the fees must be equal to the new price to create an MBASE.
Smart contracts are self-executable. Once the conditions that have been agreed upon are met, the contract is executed automatically. This eliminates the need for litigation or manual enforcement of the contract.
To avoid transaction errors, every smart contract’s terms and conditions must be defined with great precision. This makes smart contracts highly accurate.
Blockchain technology is based on the principles of decentralization and transparency. This guarantees that the terms of conditions of the contract are visible by everyone on the blockchain and cannot be disputed.
The degree of cryptographic security of smart contracts guarantees they cannot be tampered with. Moreover, because of the distributed nature of these contracts, no data loss can occur.
Unlike standard business procedures, smart contracts are executed immediately, making them highly efficient.
The nature of smart contracts makes them highly trustworthy instruments that eliminate the possibility for manipulation or error.
Smart contract technology does not rely on the involvement of third parties or middlemen.
Thanks to the automated nature of these contracts, they reduce the need for middlemen, as well as costs associated with processing errors.