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/biz/ - Business & Finance

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3582104 No.3582104 [Reply] [Original]

what the f*ck is a smart contract

>> No.3582123

>>3582104
A contract between to parts doesnt require a middleman and doesnt need you and the other part to trust eachother , the contract is written in code in the wallet

>> No.3582128

Dumb frogposter

>> No.3582132
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3582132

>>3582104
i dunno im too stoopid to smert conrtc

>> No.3582140

>>3582104
>Shart contract

>> No.3582156

>>3582123
can you give me a practical example

also how do I trust the code

>> No.3582169

>>3582104
i dont know but neither do the chainlink devs

>> No.3582173

>>3582156
Fucking brainlet, mathematical algorithms and equations will always give you the same result with the same input

>> No.3582178

>>3582132
kek

>> No.3582187

>>3582104
I don't think anyone really knows what it is. It's just a buzzword to sell magic beans

>> No.3582188

>>3582156
Imagine youre trying to sell something to someone online. The only way to prevent theft is to have a trusted third party. A smart contract effectively eliminate this third party requirement while being even more secure and reliable/faster

>> No.3582204

>>3582188
Which crypto utilizes smart contracts In the most efficient way?

>> No.3582205
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3582205

What's with the fancy names and buzzwords, and why are they mostly linked to crypto related things?

>> No.3582211

>>3582173
>2010 + 7 and he still thinks this

>> No.3582216

>>3582104
nobody knows
it's all about making gainz, fuck the technology

>> No.3582233

>>3582204
ethereum. it is by far the largest provider of smart contracts

>> No.3582247

>>3582104
A smart contract is a publically visible, Ethereum Virtual Machine- executable program located at a specific address on the Ethereum blockchain. It has various external functions that can be called by sending messages to it, and has internal functions that often perform operations and send messages to other contracts or addresses.

Imagine you want to issue an Ethereum token. You write a crowdsale smart contract that accepts Ethereum and dispenses your token at a fixed rate. You would need some internal function buyToken() that is triggered when people send Ethereum to the contract, and returns to them some amount of your token. You would likely also have controls to start and stop the crowdsale, which would be external functions that you can call that are protected by requiring the address of anyone calling them to be pre-approved, so not just anyone can start/stop the sale.

>> No.3582261

>>3582104
Lets say I want to fuck your mom. I have to impute 2 dollars to fuck your mom. If I dont put in 2 dollars I cant fuck your mom. I also dont get two fucks for the same 2 dollars. Thats a smart contract.

>> No.3582284

What's an Oracle guys?

tried to read the Chainlink whitepaper but every sentenced referenced that shit and its confusing af

>> No.3582290

>>3582261
And you need an Oracle to interface with Ethereum to tell you whether his Mom agrees to be fucked for two dollars. That is Chainlink. Ethereum is too autistic and can't interact with the real world and can only interact with oracles.

>> No.3582298

Future contracts will ensue the rise of the pay toilet again, want in that port-a-potty? Deposit 3 ETH from your cell phone to the QR code provided on the door.

>> No.3582315

>>3582290
>whether his mom agrees to be fucked

Thats never an issue. Certainly not a 32m dollar one.

>> No.3582330

>>3582104
Smart contracts are.. well, hopes and dreams still

>> No.3582369

>>3582330
What the fuck are you talking about? Smart contracts already are in use, fucktard.

>> No.3582384

>>3582104
Software dev here. A smart contract is just any arbitrary code you write and "host" on the Ethereum blockchain. It can basically be any regular app except it cannot be taken down by anyone once uploaded, and the parts of the code that can and cannot be changed are clearly defined from the start.

tl;dr it's a mostly immutable app that can't be used to cheat you as long as you understand the code

>> No.3582385
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3582385

I don't understand this. I know that people FUD to buy cheap tokens but I don't understand why people do it on /biz/. Sure, people here are stupid, but people here are also mostly either nocoiner or hold very little. You're not gonna be making an actual difference by posting anything on here, so all you're really doing is shitting up the board with bullshit and spam. If you need proof that /biz/ can't do shit, look no further than iota. There have been a tonne of other cases where people have tried to FUD on here and every single time has been a waste. And if you're going to argue that you're not FUDing and you just hate the coin then that's even more pathetic. At least you had a reason and something to gain from wasting your time, but if you're just fudding because you hate a coin then you're wasting precious time that you could've used on a million other things.
So can anyone give me any reason why anyone would want to FUD on /biz/ rather than bitcointalk or Reddit?
Btw this isn't just about this coin it's about every coin thats been fudded this hard.

>> No.3582464

>>3582369
Yeah what for some shitty dice games that have existed for like a decade already?

>> No.3582478

>>3582284
In CS an oracle is a central database of universal constants that a program uses to check test cases to make sure its ouputs correctly match what is expected. In crypto think of it like buying something w/ a credit card; for the transaction to go through the website has to do a check to visa or MasterCard's database to check if the information matches all the cases. So in essence, they are the oracle. The oracle problem is that because everything relies on a central database there's a risk if said database were hacked or compromised or the transaction verifier was told to go to a different location that would make it verify no matter what.

>> No.3582520

>>3582156
That guy who bought a million 0x for 0.3 eth

>> No.3582897

>>3582520
lol i remember that

>scams a scammer

what a legend