Examples of Ethereum Smart Contract Use Cases

Among the various Ethereum smart contract use cases are blood procurement and decentralized finance. These contracts require a certain amount of interaction on a regular basis, and when a person dies, the smart contract will assume that the user has passed away, releasing their assets to their family. This use case represents the largest of all Ethereum smart contract use cases, and is perhaps the most important for the Ethereum network as a whole.

A prediction market is another example of an Ethereum smart contract in action. Using the blockchain, this platform encourages people to make predictions about things such as soccer games, Elon Musk’s Mars colonization project, and more. Participants who predict correctly will be rewarded through trusted smart contracts hosted on the Ethereum blockchain. Other examples of these smart contracts include gambling and product decisions. In addition to betting, these contracts can also be used to make decisions on investments, products, and events.

One of the most exciting uses of Ethereum smart contracts is building a crowdfunding service. A smart contract on the Ethereum blockchain can pool money and send it to a specific person or organization. For example, a smart contract could be written so that the user will receive money when $100,000 is added to a specific account. If this threshold is not reached in a month, the money would be sent by the contract to the designated recipient. This smart contract can even use Ether tokens instead of US dollars.

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