Smart Contracts are reversible

DWQA QuestionsCategory: BlockchainSmart Contracts are reversible
Editor Staff asked 2 weeks ago

Smart Contracts are reversible
i) True
ii) False

1 Answers
Editor Staff answered 2 weeks ago

This is False Statement, Hence answer is (ii) False

Smart contracts on the blockchain allow for transactions and agreements to be carried out among anonymous parties without the need for a central entity, external enforcement, or legal system. The transactions are transparent, irreversible, and traceable. Smart Contracts are not reversible.

Smart contracts allow for trusted transactions and agreements to be carried out among anonymous parties without the need for a central entity, external enforcement mechanism, or legal system. This way, the transactions are transparent, irreversible, and traceable. Implementing smart contracts across various blockchains is made possible through Solidity, the high-level object-oriented programming language.