Smart contract Ethereum Turing complete

1. Smart contract & quot The term "smart contract" can be traced back to at least 1995 and was proposed by the prolific interdisciplinary legal scholar Nick Szabo. He mentioned the concept of smart contract in several articles published on his website. His definition is as follows:
& quot; A smart contract is a set of promises defined in digital form, including the agreements on which the contract participants can execute these promises& quot;
let's explore the meaning of his definition in more detail
commitment
a set of commitments refers to the (often mutual) rights and obligations agreed by contract participants. These commitments define the nature and purpose of the contract. Take a sales contract as a typical example. The seller promises to deliver the goods and the buyer promises to pay a reasonable price
digital form
digital form means that contracts have to be written into computer-readable code. This is necessary, because as long as the participants reach an agreement, the rights and obligations of smart contract establishment are executed by a computer or computer network
to further explain:
(1) when will the parties to the smart contract reach an agreement? The answer depends on the specific smart contract implementation. Generally speaking, the contract is discovered when the parties are committed to the execution of the contract by installing the contract on the contract host platform< (2) contract execution
& quot; Execute & quot; And the real meaning of it also depends on implementation. Generally speaking, implementation means active implementation through technical means
(3) computer readable code
in addition, the contract needs specific & quot; Digital form & quot; Very much depends on the agreement that the parties agree to use
protocol
protocol is technical implementation, on this basis, the contract commitment is realized, or the contract commitment is recorded. Which agreement to choose depends on many factors, the most important of which is the nature of the assets being traded ring the performance of the contract
take the sales contract as an example. Suppose that the participants agree to pay in bitcoin. The chosen protocol will obviously be bitcoin protocol, on which the smart contract will be implemented. Therefore, the contract must use & quot; Digital form & quot; It's bitcoin scripting language. Bitcoin scripting language is a non Turing complete, imperative, stack based programming language, similar to forth.

2. The program running on the blockchain is usually called smart contract. So we usually change the name of writing blockchain program to writing smart contract
although bitcoin can also write smart contracts, the syntax supported by bitcoin is only related to transactions, and there are limited things it can do
therefore, when it comes to writing smart contracts, it usually refers to Ethereum blockchain that supports the execution of Turing complete programs.

3.

Ethereum is an open source public blockchain platform with smart contract function. It provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency ether (also known as "Ethereum")

The token on the

blockchain is called ether, and the code is eth. It can be traded in many foreign exchange markets of cryptocurrency, and it is also the medium used to pay transaction fees and computing services on Ethereum

the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, with the general meaning of "next generation cryptocurrency and decentralized application platform", and began to develop through ICO crowdfunding in 2014. As of February 2018, Ethernet is the second highest cryptocurrency in market value, second only to bitcoin

extended data:

Ethereum platform has no characteristics and value. Like programming languages, it's up to entrepreneurs and developers to decide what to use. However, it is clear that some application types benefit more from the functions of Ethereum than others. Ethereum is especially suitable for those applications that automatically interact directly between points or promote group coordination activities across networks

for example, coordinate the application of point-to-point market, or the automation of complex financial contracts. Bitcoin enables indivials to exchange money without the help of financial institutions, banks or governments. The impact of Ethereum may be more profound

in theory, any complex financial activities or transactions can be automatically and reliably carried out on Ethereum with coding. In addition to financial applications, any application scenario with high requirements for trust, security and persistence, such as asset registration, voting, management and Internet of things, will be affected by Ethereum platform on a large scale

4. Ethereum focuses on smart contract and Turing. EOS is based on blockchain operating system. Ethereum and EOS are two top blockchains. At present, there are bottlenecks in blockchain technology and narrow application fields.? LF cluster + cloud server is the most advanced blockchain 3.0 at present. Focusing on different blockchain projects such as public chain, storage chain, Im chain, asset chain and application chain, the advantage lies in resource isolation: each smart contract has its own blockchain, and the governance and development of proxy voting system of token holders has the most development prospect.

5. Ethereum has established a programmable and Turing complete blockchain. On this blockchain, you can realize the proction of all kinds of digital assets through a simple program, and you can also accurately control the status of the blockchain assets circulating on Ethereum by writing a program, such as whether the asset is to be paid or locked or has a quota, whether the account is a treasure list or a white list Ethereum and other digital assets, etc. At the same time, Ethereum is a programmable, flexible and complete blockchain network foundation. On this basis, we can realize more functional procts of non regional fast chain assets. For example, I use Ethereum to set up smart contracts, which can be applied in personal daily economic life and enterprise economic activities. Ethereum is a new and open blockchain platform based on the concept of blockchain and blockchain assets. It allows anyone to build and run decentralized applications on the platform by using blockchain technology. In short, Ethereum technology is blockchain technology plus smart contract.

6. Ethereum is a distributed computing platform. It generates an cryptocurrency called ether. Programmers can write "smart contracts" on the Ethereum blockchain, and these Ethereum smart contracts will be executed automatically according to the code

what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users

related: what is bitcoin? How does it work

Ethereum has a bigger goal. As Ethereum says, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes

"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin

in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper

what is ether
Ethernet is a digital token (or cryptocurrency) related to Ethereum blockchain. In other words, Ethereum is the token and Ethereum is the platform. But now people often use these terms alternately. For example, coinbase allows you to buy Ethereum, which stands for Ethereum

this is technically "altcoin", which actually means a non bitcoin cryptocurrency. Like bitcoin, ether is supported by distributed blockchain - in this case, Ethereum blockchain

developers who want to create applications or Ethereum smart contracts on Ethereum blockchain need Ethernet token to pay for nodes to host it, while users of Ethereum based applications may need Ethernet to pay for services in these applications. People can also sell services outside the Ethereum network and accept Ethernet payments, or they can sell Ethernet tokens in cash - just like bitcoin

7. I plan to start a series to talk about architecture. My previous experience is mainly in the area of Internet architecture. Recently, I am sorting out and analyzing the architecture of bitcoin, Ethereum and EOS, so I am going to write a series of articles to talk about the understanding of Internet architecture and blockchain architecture. It will be divided into four articles: 1. Internet proct architecture, 2. Bitcoin architecture analysis, 3. Ethereum architecture analysis, 4. EOS architecture analysis
there is no central server in Ethereum. Instead, there are many equal nodes connected by P2P protocol, which store all the data in many nodes. When a user initiates a transaction, the transaction will be broadcast out through P2P protocol. The miner node verifies, packages and further broadcasts the transaction to the whole network. After confirmation in the blockchain, the operation is considered to be unchangeable
in the articles on blockchain on the Internet, the two words distributed and decentralized are mentioned, sometimes slightly different, sometimes mixed. The author thinks that if we want to distinguish accurately, the distributed system emphasizes that multiple components work together by sending messages, and the decentralized system emphasizes that there is no central node to control the operation of the whole system. Therefore, we think that Ethereum is both decentralized and distributed, or running a decentralized program on a distributed platform.

8. Using Turing complete script language can make CSSL logically compatible with other programming languages, and theoretically realize the logic realized by other languages, and the real business logic to the maximum extent. Hope to adopt it!

9.

RSK smart contract is a smart contract platform based on bitcoin blockchain. RSK (rootstock) has been an eye-catching development platform since its concept was proposed. In essence, RSK is to build a decentralized and Turing complete intelligent contract platform similar to Ethereum. However, RSK is based on the bitcoin ecosystem rather than an independent blockchain. The specific way is to use the side chain technology. This approach has both challenges and great advantages

smart contract platform:

smart contract is the current research hotspot. Nick Szabo came up with the idea 20 years ago. Generally speaking, it is an electronic contract that can be executed automatically based on trigger conditions. Smart contract is the next generation of procts to realize automatic execution in various business environments, which may subvert the existing business model. For example, on-demand economy, such as insurance contract customized according to each journey, reaching the set end of the journey or writing a program to determine, and then the insurance contract ends. This insurance mode can even be connected to P2P mode, which makes traditional insurance companies useless. These simple examples can be realized through RSK smart contract platform

The advantages of

RSK:

RSK has many innovations. Firstly, Turing complete virtual machine is compatible with Ethereum virtual machine. Ethereum contracts can be run on RSK virtual machines. The goal of RSK is to achieve 20 seconds block time and 300 transfer transactions (TPS) per second at the first launch, which can be expanded to 1000 TPS. It has reached the level of PayPal, but it has not reached the throughput of credit card network. Compared with other platforms, the biggest advantage of RSK is the combined mining of bitcoin, and the security level is equal to that of bitcoin network. But it also needs to persuade miners to implement. RSK revealed that they will make miners profitable, and the implementation of the contract round fees will make miners profitable. It is likely that the RSK platform will be very popular and the contract execution will reach a stable level

10. RSK is a smart contract platform based on bitcoin blockchain. RSK (rootstock) has been an eye-catching development platform since its concept was proposed. In essence, RSK is to build a decentralized and Turing complete intelligent contract platform similar to Ethereum. However, RSK is based on the bitcoin ecosystem rather than an independent blockchain. The specific way is to use the side chain technology. This approach has both challenges and great advantages
smart contract platform
smart contract is a hot research topic. Nick Szabo came up with the idea 20 years ago. Generally speaking, it is an electronic contract that can be executed automatically based on trigger conditions. Smart contract is the next generation of procts to realize automatic execution in various business environments, which may subvert the existing business model. For example, on-demand economy, such as insurance contract customized according to each journey, reaching the set end of the journey or writing a program to determine, and then the insurance contract ends. This insurance mode can even be connected to P2P mode, which makes traditional insurance companies useless. These simple examples can be realized through RSK smart contract platform
benefits of RSK

RSK has many innovations. Firstly, Turing complete virtual machine is compatible with Ethereum virtual machine. Ethereum contracts can be run on RSK virtual machines. The goal of RSK is to achieve 20 seconds block time and 300 transfer transactions (TPS) per second at the first launch, which can be expanded to 1000 TPS. It has reached the level of PayPal, but it has not reached the throughput of credit card network. Compared with other platforms, the biggest advantage of RSK is the combined mining of bitcoin, and the security level is equal to that of bitcoin network. But it also needs to persuade miners to implement. RSK revealed that they will make miners profitable, and the implementation of the contract round fees will make miners profitable. It is likely that the RSK platform will be very popular and the contract execution will reach a stable level
hope to adopt it!