Decentralized Agreements
Decentralized agreements are self-executing contracts or protocols that operate on blockchain or distributed ledger technology, enabling trustless and automated agreements between parties without intermediaries. They use smart contracts to encode terms and conditions, automatically executing actions when predefined conditions are met. This concept underpins applications like decentralized finance (DeFi), supply chain management, and digital identity verification.
Developers should learn about decentralized agreements to build applications that require secure, transparent, and automated transactions in decentralized ecosystems, such as DeFi platforms, NFT marketplaces, or DAOs. They are essential for creating systems that reduce reliance on central authorities, minimize fraud, and enhance efficiency in peer-to-peer interactions, particularly in blockchain-based projects.