Web 3 Series: The Transformative Power of Smart Contracts with Joel Monegro
Village Global Podcast
00:00
Smart Contract Networks - The Basic Functions of the State
Smart contracts are code, and they don't rely on traditional expensive courts. They're just kind of ruthlessly automatically executed by the underlying chain. And so when you have a network that's processing and running all these contracts, and you're relying on that network to properly enforce them, then the underlying governance of that network is extremely important to you. The most sovereign networks are the ones who are most sentialized at the most levels of analysis. But we also have some interesting coopetition going on where a lot of ether challengers or competitors are using the same virtual machine called e vium.
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