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What is the Metal Smart Contract?

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Smart contracts are a digital version of traditional contracts that can help you to exchange money or anything of value in a transparent way without the need for a middleman. Smart contracts define the rules and penalties around an agreement and automatically enforce those obligations in the same way that a traditional contract does.

Here is a good article that explains what a smart contract is in layman's terms.

The Metal smart contract manages the balances of the coins and allows users to exchange fluidly on the Ethereum blockchain with ERC20 compatible services. 

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Smart contracts can:

  • Function as 'multi-signature' accounts, so that funds are spent only when a required percentage of people agree
  • Manage agreements between users, say, if one buys insurance from the other
  • Provide utility to other contracts (similar to how a software library works)
  • Store information about an application, such as domain registration information or membership records.

 

Audit of the Metal smart contract by Zeppelin

Source code of the Metal smart contract

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