Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. They are typically used to automate the execution of an agreement so that all participants can be immediately sure of the outcome without any intermediary's involvement or time loss.
The MultiversX network natively supports the issuance of custom tokens without needing contracts such as ERC20 but addressing the same use cases. And due to the native in-protocol support, transactions with custom tokens do not require the VM. In effect, custom tokens are as fast and scalable as the native EGLD token itself.
A real-time payment made up of seven properties:
- Sender - A MultiversX address
- Recipient - A MultiversX address
- Deposit - The number of streamed tokens
- Token - EGLD or ESDT Token
- Start time - The timestamp when the stream starts
- End time - The timestamp when the stream ends
- Is cancellable - Can the stream be canceled after it was created?