Which of the following is not true about Smart Contracts?

A.They are trustless in that there is no need to trust other parties to ensure the contract is executed.

B.Once a Smart Contract is executed, each participants are notified if funds are required to be sent to either party.

C.Transactions are more cost-effective.

D.Encryption helps secure contracts.

 

C.Transactions are more cost-effective.

Smart contracts have the following characteristics:

1.They are trustless - this means that  participants involved do not need to know or trust each other or a third party for the smart contract to be executed.

2. They notify participants on execution of an activity

Once a smart contract is executed, the parties involved are notified if the funds are to be send to either parties. Smart contract uses a code which facilitates, verify or enforce performance of a transaction to take place.

3.Smart contracts are encrypted

The smart contract allows the public key to be set for a user exactly once. Encryption helps the smart contracts to be more secure and therefore they hard to hack.

4.Transaction costs are expensive- In smart contracts, the cost of transactions are relatively expensive.There are high costs like the fee involved in smart contacts which makes transactions relatively expensive.Hence, transaction costs are more cost effective is not true about smart contracts.