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Learning from zero blockchain 3: smart contracts (Part 1)

Time : 28/04/2022 Author : ltc6n8 Click : + -
        "I first met bitcoin at the age of 17, won the bronze medal of the Olympia information award at the age of 18, studied at the University of Waterloo in Canada at the age of 19, won the 2014 it software world technology award at the age of 20, and established a foundation. At the age of 22, I was selected by Fortune magazine as one of the 40 outstanding figures under the age of 40 in 2016 & hellip; & hellip;" Such a record is excellent in the eyes of anyone, even a legendary existence. This is the entrepreneurial life of vitalik buterin, the founder of Ethereum from Russia. On July 30, 2015, the world's first general blockchain platform was activated, and Ethereum officially entered the historical stage.
 
        Compared with the pure currency transaction of bitcoin, Ethereum is like an app store, allowing developers to develop and sell applications at will on the platform. As the first integrated "blockchain" development platform, Ethereum is the first platform to realize "blockchain + smart contract". Among them, smart contract is a major selling point of Ethereum to attract followers. Its versatility and plasticity make developers all over the world flock to it. The concept of smart contract was not proposed by Ethereum. In 1994, Nick Szabo, an interdisciplinary legal scholar, first proposed the concept of "smart contract": "a smart contract is a set of commitments defined in digital form, including agreements on which contract participants can implement these commitments.
 
        ”However, due to the inability to solve the trust problem and the lack of implementation and landing technology, smart contracts always stay at the theoretical level. Until the emergence of blockchain, it provides a decentralized, tamper proof and highly reliable system for smart contracts. It is this highly trusting system that makes smart contracts come into full play. In essence, a smart contract is a digital contract. Unless it meets the requirements, it will not produce results. Smart contract is a computer protocol designed to spread, verify or execute contracts in an information-based manner. The author understands it as a code processing of multiple preset rules. An executable program that compiles the protocol content with multiple preset conditions (such as if & hellip; else) through computer assembly language. Once the preset conditions in the code are met, the contract content can be automatically triggered and automatically executed.
 
        Generally speaking, it means that a borrows money from B, and the IOU written down is the contract. The contract shall not only specify the details of repayment time, loan amount and bank card information of both parties, but also write the code in the preset form. It shall be executed according to the condition of "if the repayment time is reached, transfer the money from a's bank card to B", and publish the contents of the IOU to all nodes in the chain for public supervision. Then, as long as the agreed repayment date is reached, the loan will be automatically transferred to B's account, which is the smart contract. At present, more and more enterprises recognize the benefits of smart contracts and actively participate in them. Taking pulsar as an example, as a fully decentralized blockchain basic platform system with high performance, pulsar system can help application developers to easily and quickly develop dapps that meet user needs on pulsar through Turing's complete smart contract and powerful RPC interface.
 
        Smart contracts can not only change the existing business model, but also bring a lot of convenience to the public life.
 
        
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