Smart contracts are stored in the blockchain network

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. From a technical point of view, smart contracts are considered to be network servers, but these servers are not set up on the Internet using IP addresses, but on the blockchain (chain Nova). So that you can run specific contract programs on it. But unlike web servers, smart contracts can be seen by everyone, because the code and state of these smart contracts are on the blockchain (assuming that the blockchain is public). Moreover, unlike web servers, smart contracts do not rely on a specific hardware device. In fact, the code of smart contracts is executed by all devices involved in mining (this also means that the computing power to enter a single contract is limited, although the automatic adjustment of mining difficulty will adjust this effect). Smart contract is an assembly language programmed on blockchain. Usually people don't write stanza code by themselves, but they compile it from a higher-level language, such as solid, a special language similar to JavaScript. These bytecodes do provide guidance for the functionality of the blockchain, so the code can easily interact with it, such as transferring cryptography currency and recording events. The execution of the code is automatic: either it is successfully executed, or all state changes are revoked (including the information that has been sent or received from the current failed contract) This is very important because it avoids partial execution of the contract.

4. In a word, the blockchain technology has realized the smart contract. Specifically, you can go to the app of lianpai community to learn about it. The lecturer in the app said that the blockchain related content is very simple, easy to understand and professional

5. 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.

6. General banks can exchange, but limited to Monday to Friday, I suggest you can go to Bank of China and Bank of communications, especially Bank of China, this business is very perfect, you can also use RMB to exchange US dollars in the future.

7. The transaction type is nuccerh,
please ask the customer service of the bank for details
run, brother,
good luck.

8. The process of "automatic execution of smart contract built by blockchain" includes the following steps:
(1) smart contract will check the state of automata regularly and traverse the state machine, transaction and trigger condition contained in each contract one by one; The transactions that meet the conditions are pushed to the queue to be verified, waiting for consensus; Transactions that do not meet the trigger conditions will continue to be stored on the blockchain
(2) the transactions entering the latest round of verification will spread to each verification node. Like ordinary blockchain transactions or transactions, the verification node first performs signature verification to ensure the validity of the transaction; The transactions that pass the verification will enter the set to be agreed. After most verification nodes reach a consensus, the transaction will be successfully executed and the user will be notified
(3) after the transaction is successfully executed, the state opportunity of the smart contract determines the state of the contract. When all the transactions included in the contract are executed in sequence, the state opportunity marks the state of the contract as complete and removes the contract from the latest block; On the contrary, it will be marked as in progress and continue to save in the latest block until the next round of processing is completed; The whole transaction and state processing is automatically completed by the built-in intelligent contract system at the bottom of the blockchain, which is transparent and unchangeable.