Dynamic contract design of blockchain

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.

2. With the breakthrough of blockchain technology, the smart contract has a chance of rebirth. The smart contract based on blockchain technology can not only give play to the advantages of smart contract in cost efficiency, but also avoid the interference of malicious behavior on the normal execution of the contract. The smart contract is written into the blockchain in digital form, and the characteristics of blockchain technology ensure that the whole process of storage, reading and execution is transparent, traceable and unchangeable; At the same time, the strong security consensus mechanism does not need the intervention of three parties: a set of state machine system is constructed by the consensus algorithm of the blockchain, so that the intelligent contract can run efficiently.

3. Chongqing jinwowo analyzes the role of smart contract in blockchain technology as follows:
three characteristics of smart contract in blockchain can be summed up:
1) decentralization. It doesn't rely on the centralized server and runs automatically through the network nodes
2) good trust mechanism. The crisis of trust is greatly reced, and it is not necessary to consider whether the participation is trustworthy
3) high degree of autonomy. Once the condition is triggered, the contract will be executed automatically without interference

4. Shanghai Heshu Software Co., Ltd. is a professional blockchain technology service provider in China. The smart contract seems to be a script that can be executed accurately. It can also be realized with traditional technology. Why must we use blockchain technology? Personal understanding of blockchain has two characteristics: 1. Data can not be modified or deleted, but can only be viewed and added; 2. Decentralization.

5. "One of the important reasons why the working theory of smart contracts has not been realized is the lack of digital systems and technologies that can support programmable contracts. The emergence of blockchain technology solves this problem. It can not only support programmable contracts, but also has the advantages of decentralization, non tampering, transparent and traceable process, so it is naturally suitable for smart contracts. Therefore, it can also be said that smart contract is one of the characteristics of blockchain technology "
the smart contract based on blockchain technology can not only give play to the advantages of smart contract in cost efficiency, but also avoid the interference of malicious behavior on the normal execution of the contract. The smart contract is written into the blockchain in digital form, and the characteristics of blockchain technology ensure that the whole process of storage, reading and execution is transparent, traceable and tamperable. At the same time, a set of state machine system is constructed by the consensus algorithm of the blockchain, so that the intelligent contract can run efficiently.

6. In short, a group digs bitcoin on the computer, which is equivalent to a big mine.