Smart Contract discussion.

[xBDT Script 4371]

In our day to day life, we make a lot of contract. Like purchasing a house, renting a property etc. To do that, we have to take a lot of hassle.

For example, if you want to purchase a house, you have to follow all the require rules and regulations of your local like having notary of documents, having middleman, pay him etc. Give it to the housing agents dealing with them, dealing with mortgage and a lot of stuffs.

 
We don't need to do any of these if we are paying with concurrency through a smart contract.

Smart Contract is a program which check and validate a contract & force the other party to act as per the contract. The program is mainly combined with some statements which create the contract.

Usefulness of Smart Contract
With smart contract, we are reducing a lot of hassle which we have to take in our day to day life for having contracts with others. It also help us perform a transparent contract where nothing can be changed and manipulate. Through smart contract, we don't need any kind of manual interfere towards other party to be honest on the contract.

 

So now that we have a little idea about smart contract, let's create a discussion panel here in this topic to talk about smart contracts. Who is first? 😁

[dentolas 551]

This is why I think ETH is the one that is not aiming to become digital money, but to really introduce blockchain features into our lifes...

Smart contracts are made for trustless transactions/agreements between parties. It is transparent, efficient and trustless...

It will definitely make our lifes easier and remove a lot of surplus scum in our society (notaries, middle mans, banks, etc)

[xBDT Script 4371]

2 hours ago, dentolas said:

This is why I think ETH is the one that is not aiming to become digital money, but to really introduce blockchain features into our lifes...

I think we have this misconception or I would say that we sometimes messed up with terminology.

Ethereum is the  platform name and Ether is the currency. Have you notice we always use Ethereum as the currency LOL

1 hour ago, ashasanga said:

Digital in general simplifies a man's life and reduce hussle.

We really do not need to use the fiat currency at all. How wants to have pile of papers for a contract LOL

[Sabrin 17]

This is very interesting. I never heard about. I am new in cryptocurrency and I am learning a lot from you.

I do not know any programing. How I can start a smart contract?

[Mohs3n71 0]

1 minute ago, Sabrin said:

This is very interesting. I never heard about. I am new in cryptocurrency and I am learning a lot from you.

I do not know any programing. How I can start a smart contract?

if you want to create a new token you need to write some codes, for example for creating an ERC-20 token and smart contract on Ethereum platform you need to know a language called SOL that is actually just built for this purpose, but you can find the needed codes on the internet and you can change them easily

[xBDT Script 4371]

Just now, Sabrin said:

This is very interesting. I never heard about. I am new in cryptocurrency and I am learning a lot from you.

I do not know any programing. How I can start a smart contract?

Well the language is called Solidity. If I am not wrong it will be the same as the computer language we learn.

Just now, Mohs3n71 said:

Ethereum platform you need to know a language called SOL that is actually just built for this purpose,

SOL - is this the sorter form of Solidity?

By the way, to understand Etherium platform one really do not need to be Solidity programmer. 

Edited October 30, 2019 by xBDT Script

[Sabrin 17]

1 minute ago, xBDT Script said:

Well the language is called Solidity. If I am not wrong it will be the same as the computer language we learn.

SOL - is this the sorter form of Solidity?

By the way, to understand Etherium platform one really do not need to be Solidity programmer. 

So, i do not need to be a programmer. It is possible to create smart contract. what is the fee for contract?

[xBDT Script 4371]

Just now, Sabrin said:

So, i do not need to be a programmer. It is possible to create smart contract. what is the fee for contract?

No no, you do not need any fee or things. You can just create them using their platform, like the way they do programming. I mean creating websites and application. It's same like this.

 

Just now, ashasanga said:

Yap, after all papers catch fire easily to lose evidence but in digital world fire has no place in it, evidence/contract stays alive for as long is it is valid.

I missed your post last time.

My dead used to work in a office, it's a government one and I used to see these pile of papers LOL

 

An example 😁

[dentolas 551]

34 minutes ago, xBDT Script said:

I think we have this misconception or I would say that we sometimes messed up with terminology.

Ethereum is the  platform name and Ether is the currency. Have you notice we always use Ethereum as the currency LOL

 

LOL, I am to blame for the mixing of the names... maybe I'm getting old

Concerning smart contract, there was a boom of projects using this feature, as you can use a smart contract for just about anything that involves agreement between parties... I really think this will be one of the driving forces behind blockchain adoption

[lucky80 1046]

With smart contracts, we can create an ecosystem that does not require mutual trust.
An example is asset registration in the smart contract. Once the car is registered, you do not need to be afraid to put your car anywhere because it is registered and transparently can be seen in explorer. Everyone confirms that it is your car, so if a burglar is taking your vehicle, he cannot sell it anywhere. Overall, human attention will no longer be in a situation of mutual suspicion. And finally, everyone will be happy.

[bitcoin-shark 1928]

smart contracts are very useful in various aspects of real life, such as purchases, certifications of ownership at a certain time, perhaps in the future we will be able to stop using notaries for buy or sell and only use smart contracts at obviously much lower prices.

[xBDT Script 4371]

@dentolas

Talking about mixing up with the terms- I really do not blame you. I have been with the space for long time and I learnt it not even a year ago haha

@lucky80

This is the whole point of blockchain. There are no trust system. All you do it that you verify.

[hexwin 4931]

4 hours ago, xBDT Script said:

So now that we have a little idea about smart contract, let's create a discussion panel here in this topic to talk about smart contracts. Who is first? 😁

Smart contracts are great idea of using crypto in every day.

One suggestion I have for payments on regular basis is MonarchPay: https://monarchpay.com/

You can agree any term and create any service you offer,
and receive weekly or monthly payments in stable coins or ethereum.

[xBDT Script 4371]

18 minutes ago, hexwin said:

Smart contracts are great idea of using crypto in every day.

I can think of some good application which I am not sure was already developed or not. But if not then it will be very interesting and useful for the human race. Here are some:

Contract for Mortgage

Contract for Supply chain management.

Contract for Copy right contents

Contract for Insurance

Contract for Employment

There are really so many ways smart contracts can be implemented.
 

Edited October 30, 2019 by xBDT Script

[hexwin 4931]

5 minutes ago, xBDT Script said:

I can think of some good application which I am not sure was already developed or not. But if not then it will be very interesting and useful for the human race. Here are some:

Contract for Mortgage

Contract for Supply chain management.

Contract for Copy right contents

Contract for Insurance

Contract for Employment

There are really so many ways smart contracts can be implemented.
 

It is true... but they should be double checked bugs and audited, as one small mistake can create disaster. They are not so simple as we may think, and Ethereum devs will have hard time moving them to PoS easy

Edited October 30, 2019 by hexwin

[xBDT Script 4371]

5 minutes ago, hexwin said:

It is true... but they should be double checked bugs and audited, as one small mistake can create disaster. They are not so simple as we may think, and Ethereum devs will have hard time moving them to PoS easy

There are a lot of service for creating the contract, checking them and auditing them, since this is a contract between two people, both party needs to audit the contract to ensure fairness. But it's better people spend a little time behind learning this so that no one else can manipulate a contract. Because when you read the contract, it's pretty much understandable, even if you don't have any programming knowledge.

[Thekingcallme 1975]

It is also said the mind defeats the muscles
And smart contracts is good and arranges things and our lives towards the best
One of my slogans, "Ranking is the foundation of life"

[hexwin 4931]

7 minutes ago, xBDT Script said:

There are a lot of service for creating the contract, checking them and auditing them, since this is a contract between two people, both party needs to audit the contract to ensure fairness. But it's better people spend a little time behind learning this so that no one else can manipulate a contract. Because when you read the contract, it's pretty much understandable, even if you don't have any programming knowledge.

You know that there is website where anyone can check smart contract for free or pay for more.
I can add any smart contract address and get audited information about it.
Cool stuff
https://cap.anchainai.com/

[xBDT Script 4371]

16 hours ago, hexwin said:

You know that there is website where anyone can check smart contract for free or pay for more.
I can add any smart contract address and get audited information about it.
Cool stuff
https://cap.anchainai.com/

Thank you for sharing the link, I was not much aware about it. Will try it soon.

55 minutes ago, Basad said:

Not all smart contract are coded the right way some have loopholes, smart contract is a great think it is an automated system built in dApps but it has to be improved.

It is true, improvement is needed of course but you know it will take time. I think we are very early stage of blockchain based currency and there is a big corner there.

[hexwin 4931]

4 hours ago, xBDT Script said:

Thank you for sharing the link, I was not much aware about it. Will try it soon.

No problem. I did my own audit for Monarch smart contract  and it was so cool to see all the details.
Best thing about it that it is free to do it.

 

[xBDT Script 4371]

18 minutes ago, ashasanga said:

OOPS! paperwork stuff, never gets old huh!, i believe we're heading towards a world where the only paperwork we would be dealing with is, paper wallets.

Haha I get the sarcasm.

Well in the future we will not have all this paper works instead we will have everything in the blockchain of course. Even in the current age we have this office management software which are doing great deal of in the industry.

This paper work in the office with pile of papers are really old concepts.

[xBDT Script 4371]

Just now, ashasanga said:

I even red one of a topic here one is saying that, the blockchain tech should be implemented in voting system of our leaders, as every block is verified by miners themselves, every vote shall be verified by a citizen himself. See less paperwork, LOL.

Well talking about voting system it was me who had this in here I guess. I even have a topic that talked about smart contract implementation.

Here is the post on the topic: 

Yeah when we will have blockchain based contracts then obviously we are not going to deal in the old school way.

[xBDT Script 4371]

Just now, ashasanga said:

Are maybe, i red the idea from you lol, i lose track, after all you're everywhere on this forum haha.

Ahh I will take it as a complement LOL

Quote

Brings me into asking a personal question, how many post you make/day?

Honestly speaking it really is depending on my mode. I really do not want to spam which is not my personality. So I want to keep my conversations as much constructive as I can and that takes time. I can make a 100 posts or 80 posts or even 150 posts a day but really there are no certain number in it.

Anyway, I think this smart contract idea was really a good proposal from Vitalik Buterin. I would say he is a generous. 

[Bills 583]

I see smart contracts as a profitable way of blockchain, the fact of facilitating payments through them is a great thing.

[cuterthing 261]

11 hours ago, Basad said:

Not all smart contract are coded the right way some have loopholes, smart contract is a great think it is an automated system built in dApps but it has to be improved.

Can anyone make a smart contract ? For example let's say I want to trade with someone from China.Can we make a smart contract and would it be safe enough ? If we can make then how could I do that ?