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xBDT Script

Smart Contract discussion.

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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? 😁

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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)

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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

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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?

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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

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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 by xBDT Script

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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?

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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 😁

PorR7F5.jpg

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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

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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.

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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.


 

 

 

 
 
 

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@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.

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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.

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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 by xBDT Script

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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 by hexwin

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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.

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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"


 

Life is great and enjoy it

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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/

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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.

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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.

 

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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.

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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.

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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. 

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

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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 ?

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At the very end of the workweek, on Friday, 24 May, we will learn the GDP data of Germany for Q1 2024.   CRYPTOCURRENCIES: Weak USD = Strong BTC   "A week of reflection and uncertainty": this is how we described the previous review. On Wednesday, 15 May, this uncertainty was resolved in favour of the crypto market. As often happens, the reason for this was the Fed's monetary policy. The released inflation data in the US influenced market expectations regarding a rate cut. As a result, the American currency weakened, the DXY index went down, and investors' risk appetites increased. Stock indices reached historical highs, with the daily gain for BTC/USD exceeding 8%. ETH/USD also rose by 4.5%. However, this is not yet the long-awaited Bull Rally, and it is quite possible that once the situation with the dollar calms down, the growth of bitcoin and leading altcoins will cease. At least, this is the scenario many crypto market specialists predict.   According to Capriole Investment founder Charles Edwards, bitcoin is in a "deathly boring" stage. He believes that the current consolidation period may last from one to six months, during which the quotes will remain in a low-volatility range. This will continue until traders lose patience.   Sentiment will be most negative just before the end of the flat period, Edwards believes. "When you get tired of the sideways movement, common symptoms will include thoughts that the halving is already priced in and the bull market is over. […] Your symptoms and shorts will peak just before the mega-rally," predicts the head of Capriole Investment.   Galaxy Digital head Mike Novogratz also spoke about the consolidation of the crypto market, whose growth dried up three months after the launch of spot BTC-ETFs. In his opinion, until new circumstances or events lead to growth, the first cryptocurrency will trade in the range of $55,000 to $75,000.   Analyst Rekt Capital expressed a similar point of view. He believes that the threat of a bitcoin price drop after the halving has already passed. Drawing an analogy with the situation six years ago, he suggested that on 01 May, BTC hit a bottom around $56,000, and now calm will likely prevail until autumn, with the asset remaining in the accumulation zone. According to Rekt Capital's forecast, the exponential growth phase will begin in the autumn, during which the coin's value will reach new heights.   Bitfinex crypto exchange experts are somewhat more optimistic. They believe that the current lull may last only until the beginning of summer, and in Q3–Q4, growth will return. But everything depends on the actions of the US Fed. Bitfinex notes that the decline of the US currency from a six-month peak after the May meeting of the regulator and a weak employment report became a turning point in the trend. Now, the reduction in inflationary pressure in the US has been added. As a result, the weakening of the US currency could stimulate a rally in digital assets.   Where will this rally lead in the medium and long term? There are many answers to this question. Some predict the complete collapse and oblivion of bitcoin, while others insist on a price of $1 million per coin. Recently, Jack Dorsey, co-founder of Twitter (now X) and head of Block, joined the "millionaires' club" after CMCC Crest co-founder Willy Woo. He also expects bitcoin to surpass the $1 million mark by 2030, after which it will continue to grow, challenging traditional fiat currencies. The entrepreneur noted that a very interesting aspect of digital gold is the nature of its ecosystem and how it stimulates collective efforts to improve the network. "Aside from the founding story, the most amazing thing about bitcoin is that everyone [...] who makes any effort to improve it makes the whole ecosystem better, which drives the price up. This is an incredible movement. [...] It has taught me a lot," he explained.   Businessman, writer, and founder of Edelman Financial Services Ric Edelman believes that traditional international investors will do everything possible to diversify their portfolios. And if they all invest at least 1% of their funds in the first cryptocurrency, the bitcoin market volume will reach an unprecedented $7.4 trillion, and the asset price will soar to $420,000. The growth of the market capitalization will be facilitated by spot BTC-ETFs. According to Edelman, they cover a much broader investor base than traditional assets. "In addition, crypto ETFs are incredibly cheap. They are 20-25% cheaper than assets on Coinbase or other crypto exchanges. Plus, they are held in brokerage accounts. Bitcoin ETFs allow for traditional investment strategies such as rebalancing and dollar-cost averaging. There are also tax advantages," Edelman lists the advantages of such funds. "I am confident that bitcoin and ethereum ETFs will have a significant impact on the market in the long run," he stated.   However, this last assertion can be disputed. While BTC-ETFs are a reality, the situation with ETH-ETFs is not so simple. Many expected the SEC (Securities and Exchange Commission) to approve applications for the launch of ethereum funds in May. But this has not happened yet. Moreover, Bloomberg analyst Eric Balchunas and securities lawyer Scott Johnson believe that the chances of approving spot ETH-ETFs are almost zero. In their opinion, the SEC is now considering the possibility of rejecting these funds' launch based on the fact that the applications were submitted with violations, as the fund shares are securities, not exchange-traded commodities. The question of choosing between bitcoin and ethereum confronts many investors. The roles of these two cryptocurrencies differ, and this can significantly affect their profitability. Bitcoin is increasingly seen as digital gold, providing stability during times of economic uncertainty. This concept is supported by the observed post-halving volatility decrease, which was even lower than that of many companies in the S&P 500 index (Fidelity data).   Ethereum continues to push the boundaries of what is possible through technological innovations, including the recent Dencun update aimed at reducing fees and increasing scalability. However, these changes have once again made the network inflationary, nullifying the deflationary trend established after The Merge in 2022. As a result, ETH's volatility remains higher than BTC's.   According to ChatGPT, the artificial intelligence from OpenAI, the choice between these assets largely depends on individual investment strategy and risk tolerance. Bitcoin is generally better suited for investors seeking a relatively safe store of value and those new to cryptocurrencies. In contrast, Ethereum is better for those who believe in the future of blockchain technology. The main altcoin potentially offers higher rewards but also higher risks.   Investor and Eight founder Michaël van de Poppe has already made his choice. He admitted to selling all his bitcoins to buy altcoins. Van de Poppe believes that many of them are undervalued. And as soon as ETH prices start to rise, other alternative tokens will also go up. The expert believes that the altcoins he has chosen are likely to start growing earlier and faster than the market leader, allowing for greater profit than from investments in digital gold.   At the time of writing this review, the evening of Friday, 17 May, BTC/USD is trading at $66,835, and ETH/USD at $3,095. The total market capitalization of the crypto market is $2.42 trillion ($2.24 trillion a week ago). The Crypto Fear & Greed Index has risen from 66 to 74 points but remains in the Greed zone. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Добрый день уважаемые форумчане!   Дуров заявил об успехе Notcoin. Что это значит для криптовалют в Telegram   "В четверг, 16 мая, крупнейшие криптобиржи, включая Binance, OKX и Bybit, провели листинг токена NOT игры Notcoin. Игра существует в виде приложения внутри мессенджера Telegram и с момента запуска в январе собрала более 35 млн игроков, которые конвертировали игровые монеты в токены. На старте торгов цена токена доходила до $0,37, но уже несколько минут спустя зафиксировалась на $0,01. По данным на 17 мая 20:00 мск, NOT торгуется по $0,007 в паре со стейблкоином USDT на бирже Binance при капитализации более $700 млн"   Хотели бы увидеть на нашем сервисе направление с монетой NOT?
    • Оптовые закупки прокси?Предлагаем выгодные условия для крупных заказов. Прокси для всех – от стартапов до крупных корпораций!🥰 Сайт🙂 Телеграм❤️ Вконтакте 🤧 Поддержка 🤩Твой промокод CRYPTO_LAB
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