Blockchain and smart contracts enable decentralized transactions, where asset balances are securely recorded and agreements are enforced through code, enhancing trust and efficiency.
Double-Authentication-Preventing Signatures (DAPS) are crucial for ensuring that private keys cannot be reused to sign different messages, thus preventing double spending in blockchain applications.
HTLCs serve as a robust mechanism for encasing transactions within cryptographic constraints that ensure conditions for asset transfer are met, enhancing security and reliability.
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