Automated blockchain refers to systems that handle tasks without human intervention, leveraging smart contracts and automation tools. These systems enable processes like transactions, record-keeping, and decision-making to occur automatically under predefined conditions.Smart contracts are self-executing agreements with the terms directly written into code. They automatically enforce rules and execute actions when conditions are met. For example, a smart contract could release funds when a deliverable is confirmed, ensuring transparency and reducing the need for intermediaries.Automation on the blockchain also enhances efficiency and speed. By eliminating manual processes, transactions can be completed faster and with fewer errors. Automated protocols can facilitate complex operations, such as decentralized finance (DeFi) applications, where users can lend, borrow, or trade assets without traditional banking infrastructure.Overall, automated blockchain systems streamline operations, enhance security, and create new opportunities for innovation, making them increasingly significant in various applications beyond just currency transactions.
Tether Settles $299.5 Million Claim With Celsius Bankruptcy Estate
Tether has paid $299.5 million to the Celsius Network bankruptcy estate, resolving a legal dispute that stemmed from the cryptocurrency lender’s