Difference between revisions of "Smart contract"
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Revision as of 22:04, 10 March 2018
About smart contracts, the basis of conditional payments ("smart payments"), Byteball's killer feature. And "the competition". Not too technical
Contents
Contracts. Ethereum, right?
Byteball does simple, human-readable contracts to perform simple actions.
Ethereum does complex, programmer-readable contracts to perform complex actions.
No overlap.
But Rootstock?
Rootstock is a centralized smart-contract platform planned to be layered on top of Bitcoin. RSK is just released on Bitcoin testnet.[1]
One post: RSK is EVM on BTC (that is, Ethereum Virtual Machine infrastructure, but linked to and secured by bitcoin's blockchain instead, using sidechains.)
RSK is now supported on Trezor.[2]
Offering smart contracts
When you want to create a new smart contract with a user, your sequence is usually as follows:[3]
- You ask the user to send his payment address (it will be included in the contract)
- You define a new contract using the user's address and your address as parties of the contract
- You pay your share to the contract
- At the same time, you send a specially formatted payment request (different from the payment request above) to the user to request his share. You start waiting for the user's payment
- The user views the contract definition in his wallet and agrees to pay
- You receive the payment notification and wait for it to get confirmed
- After the payment is confirmed, the contract is fully funded.
See wiki Oracle article for examples and videos.
External links
References
- ↑ https://www.reddit.com/r/Bitcoin/comments/6e7mdz/rsk_testnet_is_open/?st=j3bxt1g7&sh=63cbb552 Reddit thread 2017-05-30
- ↑ http://gk2.sk/how-to-use-trezor-with-rootstock-rsk-using-myetherwallet Online article 2017-05-30
- ↑ https://github.com/byteball/byteballcore/wiki/Writing-chatbots-for-Byteball Github: Writing chatbots for Byteball
