An external function call refers to a request made by a smart contract to execute a function located in another smart contract. This allows for interaction between different contracts on the blockchain.When a smart contract needs to make use of logic or data from another contract, it performs an external function call. This can involve sending tokens, retrieving information, or triggering specific operations. The called function can be within the same blockchain or potentially a different one, depending on the design.These calls are significant because they enable modularity and reuse of code, promoting efficiency. However, they also carry risks. If the called contract has vulnerabilities, they can be exploited, leading to losses. Furthermore, the execution of external calls can result in higher transaction costs and increased complexity, especially if multiple calls are chained together.Ultimately, external function calls are a key mechanism that facilitates collaboration and interaction among various smart contracts, enhancing the overall functionality of blockchain applications.

UK’s FCA to Allow Retail Investors Limited Access to Crypto ETNs
The UK’s Financial Conduct Authority (FCA) will permit retail investors to access certain crypto asset-backed exchange-traded notes (cETNs) for the