Bitcoin has no online smart contract function

1. Smart contract & quot The term "smart contract" can be traced back to at least 1995 and was proposed by the prolific interdisciplinary legal scholar Nick Szabo. He mentioned the concept of smart contract in several articles published on his website. His definition is as follows:
& quot; A smart contract is a set of promises defined in digital form, including the agreements on which the contract participants can execute these promises& quot;
let's explore the meaning of his definition in more detail
commitment
a set of commitments refers to the (often mutual) rights and obligations agreed by contract participants. These commitments define the nature and purpose of the contract. Take a sales contract as a typical example. The seller promises to deliver the goods and the buyer promises to pay a reasonable price
digital form
digital form means that contracts have to be written into computer-readable code. This is necessary, because as long as the participants reach an agreement, the rights and obligations of smart contract establishment are executed by a computer or computer network
to further explain:
(1) when will the parties to the smart contract reach an agreement? The answer depends on the specific smart contract implementation. Generally speaking, the contract is discovered when the parties are committed to the execution of the contract by installing the contract on the contract host platform< (2) contract execution
& quot; Execute & quot; And the real meaning of it also depends on implementation. Generally speaking, implementation means active implementation through technical means
(3) computer readable code
in addition, the contract needs specific & quot; Digital form & quot; Very much depends on the agreement that the parties agree to use
protocol
protocol is technical implementation, on this basis, the contract commitment is realized, or the contract commitment is recorded. Which agreement to choose depends on many factors, the most important of which is the nature of the assets being traded ring the performance of the contract
take the sales contract as an example. Suppose that the participants agree to pay in bitcoin. The chosen protocol will obviously be bitcoin protocol, on which the smart contract will be implemented. Therefore, the contract must use & quot; Digital form & quot; It's bitcoin scripting language. Bitcoin scripting language is a non Turing complete, imperative, stack based programming language, similar to forth.

2. Bitcoin is a kind of virtual digital currency proposed by Nakamoto in 2009. It is characterized by no centralized issuing institution and a fixed total of 21 million pieces. It is not a one-time issue and needs to be proced by miners. Due to the decentralized structure, trust needs to rely on cryptography and consensus mechanism technology to achieve
blockchain is a general technology derived from bitcoin. It implements a decentralized database model. Bitcoin can be called blockchain 1.0 because it has no concept of smart contract. The key technologies of blockchain include cryptography encryption and decryption and consensus mechanism. Blockchain is generally used to combine with specific business logic, which needs to rely on smart contract, which provides an execution mode free from human interference
the IPO of ICO originates from the concept of initial public offering (IPO) in the stock market. It is the behavior of blockchain project to issue token for the first time, raise bitcoin and solve Ethereum and other common digital currencies.

3. Ethereum is a distributed computing platform. It generates an cryptocurrency called ether. Programmers can write "smart contracts" on the Ethereum blockchain, and these Ethereum smart contracts will be executed automatically according to the code

what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users

related: what is bitcoin? How does it work

Ethereum has a bigger goal. As Ethereum says, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes

"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin

in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper

what is ether
Ethernet is a digital token (or cryptocurrency) related to Ethereum blockchain. In other words, Ethereum is the token and Ethereum is the platform. But now people often use these terms alternately. For example, coinbase allows you to buy Ethereum, which stands for Ethereum

this is technically "altcoin", which actually means a non bitcoin cryptocurrency. Like bitcoin, ether is supported by distributed blockchain - in this case, Ethereum blockchain

developers who want to create applications or Ethereum smart contracts on Ethereum blockchain need Ethernet token to pay for nodes to host it, while users of Ethereum based applications may need Ethernet to pay for services in these applications. People can also sell services outside the Ethereum network and accept Ethernet payments, or they can sell Ethernet tokens in cash - just like bitcoin

4. Bitcoin is not supported, only point-to-point transmission is allowed

5.

The difference between foreign currency and foreign exchange mainly lies in the following two aspects:

1. Different concepts

foreign exchange refers to the creditor's rights that a country can use in the event of balance of payments deficit in the form of bank deposits, treasury bonds of the Ministry of finance, long-term and short-term government securities, etc. To put it simply, it means all the foreign currency assets owned by a country and various payment means that can be used for international settlement of claims and debts

Foreign currency refers to all foreign currencies except domestic currency

The main uses of foreign exchange are: means of payment and credit instruments for international trade and settlement; It can be used to adjust the balance of international funds; It can be used as an important international reserve resource of a country

Foreign currency is mainly used for commodity payment and currency exchange

extended information:

foreign exchange trading should pay attention to:

1, looking for events to stimulate market volatility

if you want to trade, then you should look for events to quickly stimulate market volatility, which can be company statements, data release or important meetings. These events can affect the fluctuation direction of the market in a very short period of time, so they also give traders the opportunity to make quick profits

In foreign exchange trading, if the market is contrary to your expectation, it is normal for you to feel panic. You must set a stop loss to control the loss range, rather than hope that the market will eventually change direction. Most successful traders are very sensitive to the loss, they will try their best to control the loss. In addition, don't move the stop at will

3. Keep checking the market

if you are sure that you have enough time to check the market frequently, you can start trading. When some short-term traders find that the market is contrary to expectations, they will decide to take long-term positions halfway. But it's likely to get stuck in a deal that's not good for you

6. It's said that the sentence has not been pronounced. I don't know how many years.

7. You're talking about Maya mining machinery. OK? They have been in contact with the mining instry for a long time, and they have a relatively good technical level. Now IPFs is so hot, Maya mining machinery instrial grade mining machinery should be able to bring higher profits