Smart contracts are just like the contracts in the real world. The only difference is that they are digital. In fact, a smart contract is a computer program stored on a blockchain.
Smart contracts are self-executing pieces of code that execute when the preset conditions by the involved parties are met; for example, a smart contract that issues a token when someone deposits fiat.
The Bancc Blockchain will offer the ability for developers to build and create projects on the network by using the BancChain that offers EVM & Smart Contract functionality but with a higher throughput than the original Ethereum blockchain.
By doing this we will be able to create exciting and new types of functionality with everyday life at the same time of less fees and a higher transaction output. Meanwhile we are able to create a blockchain, we believe that interoperability plays an important role in the growth of the network and by using our own customised Cross-chain swap we will make it easy and convenient for everyone to join our blockchain.
The token standard on BancChain™️ is called ESP-20.