KB Topic Smart Contracts

Smart Contracts were invented by Nick Szabo in the 1980's. Being a computer scientist and having graduated in Law School, Szabo had the idea that legislation and agreements could be coded for automatic execution by modern computers.

Today we find smart contracts in every cryptocurrency. Bitcoin's limited stack oriented scripting language only supports very simple "contracts" (programs), such as transferring Bitcoin to other addresses. Ethereum and other second and third generation cryptocurrencies changed all this by integrating Turing-complete programming language interpreters into the core of the cryptocurrencies.

As a result, anything that can be coded in a general purpose programming language can also be coded for a platform like the Ethereum Virtual Machine (EVM). Smart contracts can be developed for any purpose : direct sales, escrow and even to pay salaries and honor financial commitments that can be conditioned to certain events happening.

The popularity of smart contracts drove Ethereum to the post of #2 cryptocurrency just months after its initial release. Today ETH oscillates between #2 and #3 in a tight race against Ripple (XRP).

Based on Cryptocurrency Knowledge Base Topic smart contracts
Understand revenue sharing via smart contracts
Your organization would like to pay out a performance bonus to its collaborators and one of the board members has raised the possibility of paying this bonus in Ethereum tokens. You are delighted by this idea and you ask them how this is possible. Smart contracts, he replies! How can smart contracts be used in this situation? It's actually very simple. A smart contract could be used to manage Ethereum in an organization. ETH is sent to the contract address which, in turn, has business rules encoded in...

Understand the basics of smart contracts
What's a smart contract? What makes it smart? How can I deploy my own contracts on the Ethereum blockchain? In this article we explore these questions and give you an overview about smart contracts and their revolutionary contribution to the world of cryptocurrencies. In the beginning there was Bitcoin. It's a protocol that allows you to move coins up and down, right? Well, not only that. Bitcoin is actually the result of the processing of a stack-based computer programming language contained within each...

ELI5: Ethereum, Gas, Gas Price, Gas Limit, Smart Contracts
To those familiar with Bitcoin, Ethereum can seem like a confusing mess. Bitcoin is very straightforward. Transaction fees are paid in the same currency and unit as the main currency itself. There is a very limited programming language embedded in Bitcoin, it cannot implement very sophisticated contracts and, overall, it's a very simple system that efficiently assembled previously existing cryptographic research into the innovative cryptocurrency we know today. (Perhaps its simplicity is key to why Bitcoin ...

A Beginner's Guide To NEO: Smart Contracts 2
Neo was formerly known as Antshares. The coin rebranded in 2017 as Neo, and went on a rampaging bull run up to $50 a coin. Now holding steady around $150, Neo has big plans for 2018. Cryptocurrencies are crashing left and right. The bottom has fallen out of the crypto market, as Bitcoin slides beneath 10,000. The coin of the moment, Ripple, is sinking like a lead balloon. But a lone survivor is holding strong, as NEO has shot up 16% in the past week. NEO was a project we shortlisted within our premium, members only Coinist Insiders Network and we made great profits on.  To be increasing strongly when the crypto markets are a black hole is a testament to Neo. The momentum and technology behind the so-called Chinese Ethereum, are the reasons you should familiarize yourself with it.

What Are Smart Contracts Guide For Beginners
For updates and exclusive offers, enter your e-mail below. Imagine that you need to sell a house. It's a rather complicated and daunting process which entails a lot of paperwork, communication with different firms and people as well as a high levels of various risks. That's why the absolute majority of house sellers decide to find an estate agent, who deals with all the paperwork, markets the property and acts as an intermediary when the negotiations begin, overseeing the deal until it's closed. Moreover, the agency provides an escrow service, which is especially useful in such transactions, as the sums involved are normally quite big and you can't really fully trust the person you will be dealing with. Nevertheless, after the successful deal, the seller's and the buyer's agents will share around seven percent of the sale price as their commission. This amounts to quite a substantial financial loss for the seller.

How Do Ethereum Smart Contracts Work - CoinDesk
Like many ideas in the blockchain industry, a general confusion shrouds so called smart contracts. A new technology made possible by public blockchains, smart contracts are difficult to understand because the term partly confuses the core interaction described. While a standard contract outlines the terms of a relationship (usually one enforceable by law), a smart contract enforces a relationship with cryptographic code. Put differently, smart contracts are programs that execute exactly as they are set up to by their creators. First conceived in 1993, the idea was originally described by computer scientist and cryptographer Nick Szabo as a kind of digital vending machine. In his famous example, he described how users could input data or value, and receive a finite item from a machine, in this case a real-world snack or a soft drink.

NewEconoLab's NeoRay Will Make NEO Smart Contract Development Easier
China's largest Neo community NewEconoLab announced the online version of their Neo debugging tool called NeoRay. NewEconoLab, the largest Neo community in China today released the online version of their neon_debug_gui debugging tool. The new tool called NeoRay integrates the deployment, compilation, debugging, and invocation of smart contracts. According to NewEconoLab, they created a similar tool before but found that the novice may find it too complicated to work with as they need to learn additional things such as configuration, use process, and understanding the implementation of contract debugging.
December 18, 2018 1:59 PM


Move Over Ethereum: RSK to Enable Smart Contracts on Bitcoin Blockchain - Bitcoinist
Reading: Move Over Ethereum: RSK to Enable Smart Contracts on Bitcoin Blockchain Adam James · @Shasdam | May 15, 2018 | 19:00 Adam James · @Shasdam | May 15, 2018 | 19:00 Smart contracts and off-chain computing are coming to the Bitcoin blockchain, thanks to a partnership between RSK and iExec. The RSK project  which aims to build Turing-complete smart-contract capabilities for the Bitcoin blockchain  is partnering with iExec in an effort to provide off-chain computing to Bitcoin applications and afford decentralized applications the ability to access on-demand and scalable cloud computing resources.

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