Analysis of Dao liquidity dual currency pledge mining development principle

Our life is full of contracts , It's like you made an agreement with me , We have set up reward and punishment measures , However, due to various reasons, it may not be able to perform the terms , There is a situation of failure to perform , And in the process of compensation , There is often a breach of contract , Break a contract , Cheating Situation , Finally, it's reasonable and unclear . Smart contract is a kind of digital contract in our life , When certain conditions are met , A technique that can be executed automatically by a program .

This is very important to keep everything on the ground and promote good working relationships with other participants in the network .Smart contracts ensure that everything will be done in a coded way. Because they are not very complex programs,you can usually read and understand these codes through some basic programming knowledge.

But if we put the Convention in the form of code , Enter into blockchain , Once the agreed conditions are triggered , There will be programs to execute automatically , This is smart contract .

Smart contracts have never been popularized between individuals , Later, with the emergence of blockchain , It was found that , Blockchain and smart contract fit very well , Because of many characteristics of blockchain , For example, decentralization , The data cannot be tampered with , From a technical point of view , To solve the trust problem between strangers , This makes the large-scale application of smart contracts possible , The beginning of this stage is marked by the birth of Ethereum .

Smart contract is one of the four core technologies in blockchain , The concept 11 At first 1994 year , By Nick, a famous Cryptologist · Saab put forward , However, due to technology and other reasons, it has not been landing , Even today , Smart contracts have been widely used in the Internet , Such as automatic repayment , Drone sales, etc , It is also mostly limited to smart contracts between individuals and institutions , There are few smart contracts between individuals , And the reason is that “ trust ” problem , We will find that , Just talk about the contract , Most of them are strangers, and there is such a need between strangers , And it has something to do with money , If we make an agreement without the guarantee of a third party .

Smart contracts ensure that everything will be done in a coded way . Because they are not very complex programs , Therefore, you can usually read and understand these codes through some basic programming knowledge . This is very important to keep everything on the ground and promote good working relationships with other participants in the network .

On the basis of blockchain, Ethereum applies smart contract technology. Smart contract enables Ethereum to achieve more functions. Smart contract is a very important application. Therefore, slowly, smart contract has become one of the core technologies of blockchain.

Smart contract is actually a kind of computer protocol , Self verification with a piece of computer instruction 、 Automatic execution , And produce verifiable evidence to prove the validity of the contract operation .

When the two sides of the smart contract generate asset transactions on the blockchain, a code will be automatically triggered to automatically complete the specific transaction process , This string of computer code is a smart contract .

There are many different types of Oracle , The type of implementation will depend on the needs of the network and its users . Smart contracts ensure that everything will be done in a coded way . Because they are not very complex programs , Therefore, you can usually read and understand these codes through some basic programming knowledge . This is very important to keep everything on the ground and promote good working relationships with other participants in the network .

Many benefits of smart contracts for the way you do business can be inferred from what we are showing now . On the other hand , Some are beyond what may be obvious at first . Let's take a closer look at them .

trust ： perhaps , Perhaps more accurately , Mistrust means that you don't need to trust anyone secretly , The conditions you set will be executed . Because smart contracts do not have their own autonomy , So you can rest assured that , Everything will happen exactly as it is written .

Security ： Cryptography is building blockchain （ And extended smart contracts ） The concept of , It makes everything safer than many other technology solutions .

Therefore, smart contracts have not been popularized between individuals. Later, with the emergence of blockchain, people found that blockchain and smart contracts are very consistent, because many characteristics of blockchain, such as decentralization and data tamperability, can solve the trust problem between strangers from a technical point of view, which makes the large-scale application of smart contracts possible, The beginning of this stage is marked by the birth of Ethereum.

Speed ： Using smart contracts is an important step in manually handling all things that can be automated . Especially for middlemen , They may spend time according to their own practice , Moving all content to smart contracts may be just the time savings your business needs .

save ： According to the same logic as speed , Eliminating third-party interference can also save you the cost of their services .

autonomy ： Not relying on intermediaries gives you more power to decide what your smart contract should do by yourself or with other interested parties . Besides , As the number of participants decreases , Someone makes a mistake （ Or manipulate ） The chance of .

accuracy ： Unless the error is pre programmed into the smart contract , Otherwise, it cannot actually perform any operation other than what is written in the code .

transparency ： You can not only read the smart contract and check whether it is written in the way you want or need , And the fact that it is stored on the blockchain means that all relevant data will also be visible to future generations . For enterprises , This can speed up the audit process .

Easy to understand （ And use ）： It's really possible to write code in an incredibly chaotic way . However , High quality code will be easy to understand and use , This means that it is longer than reading 、 Dense legal documents are much easier .

There are many different types of Oracle machines, and the type of implementation will depend on the needs of the network and its users. Smart contracts ensure that everything will be done in a coded way. Because they are not very complex programs, you can usually read and understand these codes through some basic programming knowledge. This is very important to keep everything on the ground and promote good working relationships with other participants in the network.

To prevent data from being manipulated , Oracle machines are usually decentralized . This means that they are all sending the same data , And most of the data sent is considered correct .

Blockchain Oracle is such a third party . They act as data on the chain （ Block chain ） With offline data （ That is what we call the real world ） Links between . This will help expand the scope of smart contracts . If there's no Oracle , Smart contracts will only be able to operate using the information they can get from the blockchain itself... Not much .