SMART CONTRACTS - ETHEREUM - DAO - SOFTFORK -

rstracer (48)in #blockchain • 6 years ago


SMART CONTRACTS	also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules. ^{Source + Source}
ETHEREUM	since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. a softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. this kind of fork requires only a majority of the miners upgrading to enforce the new rules^{Source + Source}
DAO	is aimed at solving issues associated with censorship, fraud and third-party interference. ethereum is a blockchain-based decentralised platform for apps that run smart contracts. ^{Source + Source}
SOFTFORK	smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.^{Source + Source}


SMART CONTRACTS	smart contracts encode business rules ( that are enforced by the participants of the network) in a programmable language onto the blockchain.^{Source + Source}
ETHEREUM	is aimed at solving issues associated with censorship, fraud and third-party interference. ethereum is a blockchain-based decentralised platform for apps that run smart contracts. ^{Source + Source}
DAO	also known as “dacs”. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules. ^{Source + Source}
SOFTFORK	since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. a softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. this kind of fork requires only a majority of the miners upgrading to enforce the new rules^{Source + Source}

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