A smart contract transfer (otherwise known as a contract deposit or internal transaction) is the transfer of assets from one smart contract to another or from a smart contract to a specific address. This is in contrast to simple or vanilla deposits which are straightforward transfers from Wallet A to Wallet B.
Key Features of Smart Contract Transfers
- Internal Transactions: Smart contract transfers occur within the blockchain network and are often not visible as standard transactions without specific tools.
- Automation: These transfers are executed automatically based on predefined conditions coded into the smart contract.
- Complexity: Unlike simple wallet transactions, smart contract transfers can involve multiple parties and conditions.
Examples of contract deposits:
- Multi-transfer transactions - transfer of assets to multiple addresses in a single transaction (sample ETH transaction here)
- Bridge transfers - transfer of assets from one blockchain to another using a blockchain bridge (sample BSC transaction here)
- Web3 DApp transactions - a transaction made using a Decentralized Application which includes but is not limited to (DeFi platforms, NFTs, Crypto Staking, Airdrops, and Initial Coin Offerings)