Smart contracts – Simply Explained

What are smart contracts and what do they have to do with blockchains and cryptocurrencies? Well, let’s find in plain English! Want to buy Bitcoin or Ethereum …


  1. Can anyone answer this question? If I create a smart contract and hundreds of people start using it, how can I update it? Can I update it or must I create a new one entirely? And if I can update the smart contract whenever I like, how is this trustless? Can I not simply change the rules (via an update) once others are already using it? Any help would be very much appreciated! Thank you!

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