1. When a contract is made so is the new token. Is the comtract held only in the contract address or also within the actual token itself. So each individual token holds the smart contract source code?
A contract is made that creates the token. That contract is then passed on to the blockchain with every transaction.
2. I've seen people say that contracts are safe because you can easily read source code before interacting with a smart contract. I assume they mean before you send coins to that address etc. this loops into the first questions because if the contract is within the token itself then what stops users from sending a coin to an address and activating that contract before source code gets read?
Only the creator of the contract can change it, and only if the contract was created in a way, that the creator is allowed to have access. The idea is, that because we know the contract, we can check to see if we trust it.
Hi thank you for that answer.
In regards to the part where you say you can check the contract to see if you trust it.. what happens if someone sent you a random token to your address. Wouldn't that activate the contract without you actually knowing what it does?
