doesn’t matter which node tries to add the data, it gets replicated

across all the nodes in the Blockchain network in near real time.

1.5.8 Smart Contracts

Smart contracts are self-executing contracts written to the code. In

other words, they are business logics or algorithms that are deployed

on all the nodes of the Blockchain. These contracts are mostly used

to validate and execute the transaction request as per the previously

programmed logic. Please note that smart contracts can be used to

automate credible transactions between different parties without the

need of intermediaries or manual interventions, that are often

required in traditional transactions. In some use cases, we can also

make smart contracts execute only on a subset of nodes, rather than

on all.

1.5.9 Native Token

Most public Blockchains are associated with a native token that is

defined by the network’s protocol. The creation, transfer, redeeming,

or burning of these tokens can be handled by smart contracts. A part

of the token is usually allocated to the validators of the network. At

the same time, all the participants, whosoever wishes to run a

decentralized application on the Blockchain network, has to pay in

terms of the token. These payments in tokens also keep the

malicious actors at bay and keeps the public network safe against

the DDoS attacks.

Ideally, these tokens can be purchased at the crypto exchanges with

traditional or fiat currencies such as USA, GBP etc. The name of

some of the biggest crypto exchanges are Binance, Coinbase

Exchange, ZT, CuCoin, Upbit, FTX, Bitbank, Bitso, Kraken, Bitbank,

IndoEx etc.

Some of these exchanges also allow to trade between different

major cryptocurrencies such as Bitcoin and Ether etc. Please note

that these tokens are also cryptocurrencies that get traded in the

exchange and their prices go up or down just like traditional assets

depending upon the demand and supply in the market. Some of the