Author Topic: Smart contracts  (Read 2568 times)

id-entti-tentti on: February 03, 2015, 12:32:11 AM

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Burst is based on NXT and Proof-of-Capacity and includes also... smart contracts!


Which contracts are already working?
● Atomic Cross Chain Transactions, which allow for true decentralized trading between
cryptocurrencies. For example, trade your BURST with a coin that provides a mixing service for the
purposes of privacy, then send it right back to a new BURST account.
● Auctions, where you can auction an item or a service off at a certain starting price. Participants send
money to this Smart Contract, and anytime one sends more than the previous participant, the
previous participant’s money is automatically refunded. 'Buy Now' option is also supported.
● Crowdfunding, where it is possible, similar to Kickstarter, to support a project by sending funds to an
account. If the account receives enough funds by a certain block, then the project funds are
released; otherwise the money is returned to the senders.
● Dormant Funds Transfer, where it is possible to get an account dormant for a specified period of
time, to automatically forward the balance to another account. This could be useful as a Last Will
and Testament and/or backup for your funds, in case you lose the password.
● Lottery, where you send coins to a Smart Contract programmed to randomly choose a winner and
award that account with its winning BURST.

Which contracts can be added in the future?
● Autonomous Corporations, entities holding internal capital, autonomously acting on the market
through sets of trustless rules ­ Smart Contracts ­ with the ability to, for example, automatically pay
dividends to shareholders and basically trustlessly direct the capital around the corporation and the
market through predetermined channels of your choosing.
● Gambling, such as sports betting, where people establish ahead of time the conditions that must be
met in order to determine the winner, and the winner is automatically awarded his winnings.
● Self­mixing, it was shown to be possible to mix your balance directly using Smart Contracts;
however, the exact level of anonymity achievable using this method is currently under review.
● Smart Property, another potential area, allowing ownership of an object to be shared depending
upon the state of the Contract. For example, a shared car that you automatically pay for but only
while driving it.

http://burstcoin.info/SmartContracts.pdf

Any plans for smart contracts for FIMK?
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J #1 on: February 03, 2015, 01:58:08 AM

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[ot]Nice, I did not even know that Burst cooperating with Atomic. Maybe they could cooperate with Storjcoin X too ;P[/ot]

Lunero #2 on: February 03, 2015, 02:04:50 AM

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I would say "app's that run on blockchain" would be best to program on ERIS.

J #3 on: February 03, 2015, 02:17:14 AM

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I would say "app's that run on blockchain" would be best to program on ERIS.

What that ERIS mean? :D

id-entti-tentti #4 on: February 03, 2015, 07:12:34 PM

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What that ERIS mean? :D

This the Erisian smart contract? ;)
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Lunero #5 on: February 03, 2015, 07:58:47 PM

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id-entti-tentti #6 on: February 03, 2015, 11:07:28 PM

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Eliphaz Fimk #7 on: February 05, 2015, 07:30:37 PM

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Any plans for smart contracts for FIMK?

In quite the beginning we chose to omit the automated transactions scripting - smart contracts in the connotation that you're speaking of - for the apparent complexity for both the users and developers. To maintain focus we prefer to bring in some of the similar features into the FIMK core.

Since a while I noticed Burst is quite advanced technically, and their introduction of smart contracts is in line with this. I however expect the focus to be scattered, which results in drawbacks concerning marketing and popular breakthrough. Time will tell which tactic, the FIMK or BURST way, is more successful.

That said, anyone is free to add automated transactions to FIMK :)

Dirk Diggler #8 on: February 05, 2015, 09:04:28 PM

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Burst smart contracts is the implementation made by BTT user Ciyam and with his (their) help copied over to Burst (and Qora). It was initially made for NXT but for some political and/or other reasons not integrated into NXT. The current Burst implementation is compatible with FIMK and can be copied over like they did at Burst and Qora (it will require a hard fork). AFAIK at this time the Ciyam AT implementation is the only available so called turing complete SC implementation for NXT based chains.

The complexity Eliphaz is referring to is the fact that there is no *easy* way to write smart contracts. It's comparable to writing assembly, not many of us are good at it. Most are better with languages like C or C++ which is still translated down to assembly but offer a higher level of abstraction. I can imagine we will add some form of AT/SC to FIMK (Ciyam's implementation being the most probable at this time) but probably not without some higherlevel tools (programming language, in app editor, package manager etc..) to make it usable for a larger audience.

For FIMK we are focussing on the end user now. Downloading a client and simply *get going* with (for instance) the standard NXT wallet is way too complicated for the average user and will never catch on in it's current state. The core (server) tech is very good but lacking enormously in the client part.

For FIMK client (aka mofowallet) (among other things) we have moved from using the HTTP API to two way (event based) Websockets offering a faster and smoother user experience ready for desktop, web and mobile (instant transaction sending, instant blockchain event feedback etc..). We're also moving to a more social experience where accounts, assets, goods and currencies are like facebook user or organization pages where owners can publish info for their followers and where the public can leave comments and have discussions on those pages. Private decentralized text/audio and video chat is being added where we connect one to many browsers (firefox + chrome only) directly through p2p while the decentralized FIMK network will function as the otherwise required centralized connection broker.

A little of topic but all in all this is a lot of work where 80% of the work is UI related and 20% related to the server implementation. As some might recall the development for NXT on the server side is actually going faster than the UI developers can keep up which is a serious problem and something we realized a long time ago. Building a flexible usable UI platform that can keep up with the server developments is almost as important as the actual advancements made on the server side. FIMK might seem a bit slow now because of this but when the UI base is ready we can start pushing out features on the server side and actually make them usable for a large user base.

Interesting: https://thelonious.io/

look it up https://erisindustries.com/

Both very interesting and food for thought. It seems the number of options for AT implementations are increasing.
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