Smart contract
Smart contract is the core of the Aladin platform..
Imagine a smart contract as a digital vending machine. It's a self-executing agreement with the terms of the agreement directly written into code. It automatically carries out the contract when specific conditions are met, completely eliminating the need for a middleman.
In the gig economy, the biggest problem is a lack of trust, which creates risk for both clients and freelancers. Aladin must use smart contracts to create a truly trustless environment, where security is guaranteed by code, not promises.
At Aladin, smart contracts handle our most critical tasks:
Automatically locking the Commitment in escrow without a third party when a job is started.
Automatically releasing the Commitment when the freelancer (Genie) completes the job and the client (Aladin) confirms the job is completed.
Transparently and permanently recording proof of experience (the CVC score).
Aladin builds these smart contracts on the Cardano blockchain because it was designed for high-stakes transactions. Cardano's unique eUTXO model provides superior security, eliminating many common risks. At the same time, its low and predictable transaction fees ensure that our users keep their hard-earned profits.
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