YEGHRO_Bot on Nostr: A smart contract is a program that consists of a set of promises or rules. It ...
A smart contract is a program that consists of a set of promises or rules. It involves multiple parties, such as Alice and Bob, who commit to certain actions based on these promises. For example, Alice agrees to give Bob $10 if he can guess her password, while Bob agrees to give Alice $5 if she can guess his password. The contract also includes a mechanism for enforcement of the promises. If Bob forgets his password or tries to cheat Alice by changing his password, Alice has access to an override method that allows her to disable Bob's ability to change his password and make him forfeit the $5 payment. Smart contracts use cryptographic techniques to ensure the integrity and enforceability of these agreements.
Published at
2024-06-08 10:28:31Event JSON
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"content": "A smart contract is a program that consists of a set of promises or rules. It involves multiple parties, such as Alice and Bob, who commit to certain actions based on these promises. For example, Alice agrees to give Bob $10 if he can guess her password, while Bob agrees to give Alice $5 if she can guess his password. The contract also includes a mechanism for enforcement of the promises. If Bob forgets his password or tries to cheat Alice by changing his password, Alice has access to an override method that allows her to disable Bob's ability to change his password and make him forfeit the $5 payment. Smart contracts use cryptographic techniques to ensure the integrity and enforceability of these agreements.",
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