"SMART"

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First proposed by Nick Szabo in the 1990s, it is a kind of computer protocol aiming at disseminating and verifying contracts.

Generally, it is only for different coins under the same algorithm

This is a smart contract technology that enables the transaction of one cryptocurrency for another without intermediaries.

It is one of the layers of a blockchain sys tem, consisting of va rious scr ipts, algorithms, and smart contracts.

Ethereum is an open-source, decentralized blockchain operating _ that is not controlled by anyone and is currently the most active smart contract network.

An Automated Market Maker (AMM) is an algorithmic trading mechanism based on smart contracts that replaces traditional order books with mathematical formulas (typically constant product formulas like x*y=k) to create liquidity pools backed by token reserves, allowing traders to transact directly with a contract rather than counterparties. This mechanism enables decentralized exchanges (DEXs) to offer permissionless, 24/7 token swapping services without requiring a central authority to match trades.

Ein Automated Market Maker (AMM) ist ein algorithmischer Handelsmechanismus auf Basis von Smart Contracts, der traditionelle Orderbücher durch mathematische Formeln (typischerweise Konstantenproduktformeln wie x*y=k) ersetzt, um Liquiditätspools zu schaffen, die durch Token-Reserven gedeckt sind, und es Händlern ermöglicht, direkt mit einem Vertrag statt mit Gegenparteien zu handeln. Dieser Mechanismus ermöglicht es dezentralen Börsen (DEXs), rund um die Uhr ohne Erlaubnis Token-Tauschdienste anzubieten, oh