Cardano
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ADA · 2d

Is smart contract code stored only once and then referenced?

With Cardanos upcoming launch of native tokens similar to ERC-20 it was pointed out that such transactions will be much cheaper on Cardano as the necessary contract code is supported by Cardano itself and does not has to be repeated. For instance Ethereum transactions for opening a vault for DeFI loans are quite costly. Why are those transactions so expensive? I’d think that the smart contract code could be stored in the blockchain and transactions that rely on it just reference to it with the specific parameters. Similar how it is done in regular programming. How is that solved in Cardano?
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