Blink Planet Smart Contract

What is a Smart Contract?

In straightforward terms, a Smart Contract is an automated tool that allows the safe and controlled exchange of assets on the blockchain.

Benefits of blockchain Smart Contract transactions include:

• Security or making an exchange on a distributed immutable blockchain.

• Automated and instantaneous exchange when the contract conditions are met.

• There is no opportunity for fraudulent exchanges or cancelled payments.

• To enable the exchange, both sides of the contract must be fulfilled entirely before releasing both sides of the exchange to their respective new owners.

Smart Contracts on BlinkPlanet

BlinkPlanet Studios has created proprietary smart contracts for the BlinkPlanet secondary marketplace. These contracts enable digital asset owners to sell or auction their assets, allowing users to make and accept third-party purchase offers.

There are two dedicated smart contracts. One allows for the sale of digital assets at a fixed price, and the other provides for the sale of digital assets via auction.

When users want to sell or auction a digital asset on the BlinkPlanet secondary marketplace, they must accept the smart contract appropriate to the sale type they want. You need only do this the first time you sell or auction a digital asset.