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Purpose of blockchain smart contract
Publish: 2021-03-23 09:47:06
1. Smart contract can be simply understood as a piece of code written on the blockchain, which is event driven, has dynamic state, obtains multi-party recognition, and can automatically process the information on the chain according to the preset conditions. Once an event triggers the terms in the contract, the code will be executed automatically. The biggest advantage of smart contract is to use program algorithm to replace human arbitration and contract execution
smart contract is a contract that uses computer language instead of legal language to record terms. Once it is written, it can be trusted by users. The terms of the contract cannot be changed, so the contract cannot be changed. If the procere meets the conditions, it will be carried out, and there is no human interference to ensure absolute fairness
three technical features of smart contract
● data transparency
all data on the blockchain are open and transparent, so the data processing of smart contract is also open and transparent, and any party can view its code and data at runtime
● can't tamper
all data of the blockchain itself can't be tampered, so the code of the smart contract deployed on the blockchain and the data generated by the operation can't be tampered, and the node running the smart contract doesn't have to worry about malicious modification of the code and data by other nodes
● permanent operation
the number of nodes supporting the blockchain network often reaches hundreds or even thousands. The failure of some nodes will not lead to the stop of the smart contract, and its reliability is close to permanent operation in theory, which ensures that the smart contract can be as effective as the paper contract at all times.
smart contract is a contract that uses computer language instead of legal language to record terms. Once it is written, it can be trusted by users. The terms of the contract cannot be changed, so the contract cannot be changed. If the procere meets the conditions, it will be carried out, and there is no human interference to ensure absolute fairness
three technical features of smart contract
● data transparency
all data on the blockchain are open and transparent, so the data processing of smart contract is also open and transparent, and any party can view its code and data at runtime
● can't tamper
all data of the blockchain itself can't be tampered, so the code of the smart contract deployed on the blockchain and the data generated by the operation can't be tampered, and the node running the smart contract doesn't have to worry about malicious modification of the code and data by other nodes
● permanent operation
the number of nodes supporting the blockchain network often reaches hundreds or even thousands. The failure of some nodes will not lead to the stop of the smart contract, and its reliability is close to permanent operation in theory, which ensures that the smart contract can be as effective as the paper contract at all times.
2. Chongqing jinwowo analyzes the potential benefits of smart contract in blockchain technology as follows: the potential benefits of smart contract include recing the cost of signing contract, execution and supervision.
3. Chongqing jinwowo network: one of the most promising applications of blockchain technology is smart contract. It can automate business transactions and agreements.
4. Smart contract makes blockchain more scalable and simpler to implement, which makes Ethereum the largest blockchain development platform at present. For convenience of understanding, my definition of smart contract is: smart contract is the executable code in the blockchain environment.
5. It's a state transition code
for example, my account a has 100 yuan. After running contract B, it became 80 yuan. The contract is to change the status of 100 to 80. The contract itself is also an account, and external time (transaction, event) can trigger state transition.
for example, my account a has 100 yuan. After running contract B, it became 80 yuan. The contract is to change the status of 100 to 80. The contract itself is also an account, and external time (transaction, event) can trigger state transition.
6. The role of smart contract in Chongqing jinwowo analysis blockchain technology is as follows:
smart contract is jointly formulated by multiple users in the blockchain and can be used for any transaction between users. In the agreement, the rights and obligations of each party are specified, and proceres are compiled to specify the conditions for the contract to trigger automatic execution
after uploading to the blockchain, the smart contract can directly control the public welfare project through the code contract, and use the donation or execute the project according to the conditions set by the program, which not only ensures the special use of the donation, but also improves the authenticity and credibility of the project, makes the project execution traceable, and improves the credibility of the charity.
smart contract is jointly formulated by multiple users in the blockchain and can be used for any transaction between users. In the agreement, the rights and obligations of each party are specified, and proceres are compiled to specify the conditions for the contract to trigger automatic execution
after uploading to the blockchain, the smart contract can directly control the public welfare project through the code contract, and use the donation or execute the project according to the conditions set by the program, which not only ensures the special use of the donation, but also improves the authenticity and credibility of the project, makes the project execution traceable, and improves the credibility of the charity.
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