Smart contract blockchain app
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.
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
If bitcoin represents blockchain version 1.0, it proves to the world that digital currency can be realized. Then Ethereum represents blockchain version 2.0, which lets you know more about the play of blockchain, decentralized applications and smart contracts. In 2018, blockchain will enter the stage of 3.0, application and scenario landing will be the core of blockchain, and blockchain based applications in various instries will spring up, which will be the early dividend period of the last stage of blockchain development. The demand for talents driven by the application of blockchain technology has become increasingly large. Blockchain technical talents have become the new professional talents, which are highly competitive, and also have enviable high salaries
whether to form a meaningful large-scale consensus: one of the outstanding advantages of blockchain is that it can effectively form a large-scale consensus by opening account books and notifying the whole network. At present, there is no need to form a network wide consensus for many projects. Some projects are just for crowdfunding and token issuance. The blockchain consensus of projects is meaningless. Does this model have network effect: network effect means that a project will become more and more valuable with more and more users of the project, because the value of the project is not in the users themselves, but in the connection network between users. Bitcoin is a typical example. The more user nodes there are, the more links between nodes will grow exponentially, and the whole ecosystem of bitcoin will be more valuable
of course, in addition to these points, there are many basic principles to judge the project, such as effective incentive mechanism, strong team, project solving pain points, and so on