http://wiki.obyte.org/mediawiki/index.php?action=history&feed=atom&title=Prosaic_contractProsaic contract - Revision history2026-05-06T18:02:09ZRevision history for this page on the wikiMediaWiki 1.32.0http://wiki.obyte.org/mediawiki/index.php?title=Prosaic_contract&diff=1449&oldid=prevSlackjore: added note re profile name2019-05-21T16:05:01Z<p>added note re profile name</p>
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<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">Revision as of 16:05, 21 May 2019</td>
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<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The solution is very simple: Enable two parties to sign the text of the contract through an easy-to-use interface, store the contract’s text privately in the wallets of both parties, and post their signatures to the DAG where they are verified, timestamped, and stored forever by the network participants. After signing, the parties can easily find the contract text in their wallets to check that they are executed as agreed upon. In case of dispute, any of the parties can reveal the full contract to a third party, who can easily verify the validity of signatures through the DAG.</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The solution is very simple: Enable two parties to sign the text of the contract through an easy-to-use interface, store the contract’s text privately in the wallets of both parties, and post their signatures to the DAG where they are verified, timestamped, and stored forever by the network participants. After signing, the parties can easily find the contract text in their wallets to check that they are executed as agreed upon. In case of dispute, any of the parties can reveal the full contract to a third party, who can easily verify the validity of signatures through the DAG.</div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">=== Profile name ===</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">Enter both First and Last name in the profile. Otherwise the prosaic contract will display "unknown name."</ins></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>== References ==</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>== References ==</div></td></tr>
</table>Slackjorehttp://wiki.obyte.org/mediawiki/index.php?title=Prosaic_contract&diff=1441&oldid=prevSlackjore: copy/paste from Medium article with minor edits2019-04-20T15:41:00Z<p>copy/paste from Medium article with minor edits</p>
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<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">Revision as of 15:41, 20 April 2019</td>
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<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del style="font-weight: bold; text-decoration: none;">start page</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">Compare </del>to <del class="diffchange diffchange-inline">[[Smart contract]]s</del>.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">The ability </ins>to <ins class="diffchange diffchange-inline">create prosaic contracts is launched in version 2</ins>.<ins class="diffchange diffchange-inline">7.0 on 20 April 2019.<ref>https://medium.com/obyte/introducing-prosaic-contracts-5d3564638a20</ref></ins></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">Released </del>in <del class="diffchange diffchange-inline">version 2</del>.<del class="diffchange diffchange-inline">7</del>.<del class="diffchange diffchange-inline">0</del>, <del class="diffchange diffchange-inline">20 April 2019</del>.<del class="diffchange diffchange-inline"><ref>https</del>:<del class="diffchange diffchange-inline">//medium</del>.<del class="diffchange diffchange-inline">com/obyte/introducing</del>-prosaic-<del class="diffchange diffchange-inline">contracts</del>-<del class="diffchange diffchange-inline">5d3564638a20</ref></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">== Overview ==</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">We already have [[smart contract]]s that allow two parties to create a both human- and machine-readable contract that is enforced automatically, </ins>in <ins class="diffchange diffchange-inline">a decentralized way, by all network participants</ins>. <ins class="diffchange diffchange-inline">The parties can be anonymous, don’t need to have any reputation, and the trust is provided by a large community of independent automated verifiers who make sure all the rules are being followed</ins>. <ins class="diffchange diffchange-inline">However</ins>, <ins class="diffchange diffchange-inline">the scope of smart contracts is limited: they can only operate based on data available on the ledger and can allow only the terms that can be represented in a precise machine-readable language</ins>.</div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">We also have a connection to the real world</ins>: <ins class="diffchange diffchange-inline">a real-world identity that can be [[identity_verification|verified]] and privately stored on the user’s wallet, while a personal-data-free proof of this identity is published on the public DAG</ins>.</div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">We now leverage the real</ins>-<ins class="diffchange diffchange-inline">world identity to sign conventional contracts. We call them ''</ins>prosaic <ins class="diffchange diffchange-inline">contracts'' because they are written in natural language, contrary to smart contracts that have code under the hood (and code is poetry).</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">The solution is very simple: Enable two parties to sign the text of the contract through an easy</ins>-<ins class="diffchange diffchange-inline">to</ins>-<ins class="diffchange diffchange-inline">use interface, store the contract’s text privately in the wallets of both parties, and post their signatures to the DAG where they are verified, timestamped, and stored forever by the network participants. After signing, the parties can easily find the contract text in their wallets to check that they are executed as agreed upon. In case of dispute, any of the parties can reveal the full contract to a third party, who can easily verify the validity of signatures through the DAG.</ins></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>== References ==</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>== References ==</div></td></tr>
</table>Slackjorehttp://wiki.obyte.org/mediawiki/index.php?title=Prosaic_contract&diff=1439&oldid=prevSlackjore: start page2019-04-20T15:20:54Z<p>start page</p>
<p><b>New page</b></p><div>start page<br />
<br />
Compare to [[Smart contract]]s.<br />
<br />
Released in version 2.7.0, 20 April 2019.<ref>https://medium.com/obyte/introducing-prosaic-contracts-5d3564638a20</ref><br />
<br />
== References ==<br />
<references /><br />
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[[Category:Browse]]</div>Slackjore