Smart & block chain contract
The definition of a smart contract
Smart Contract "(smart contract) The term dates back to at least 1995, was proposed by the cross-cutting prolific legal scholar Nick Saab (Nick Szabo) come. He published several articles mentioned in their website . his concept of intelligent contracts are defined as follows:
"A contract is a commitment to smart (promises) set of definitions in digital form, including contract participants can perform these agreements in the above commitments."
Popular, intelligent computer in the contract is a piece of code, the code defines a protocol, just like in the real world contract. When the time to meet certain conditions (such as contract expires, Party B breach of contract, etc.), the contract automatically, without having a third party involved in the middle.
Second, the contract with intelligent block chain
Intelligent contract looked like a piece of computer program execution can be accurately performed automatically to meet, so why why it is difficult to achieve with conventional technology, and the need for new technology block chain technology it? Even with the conventional art software limits performance optimization methods, can not be achieved while the characteristics of the block chain:
- The data can not be deleted, modified, only added to ensure that the history can be traced back, at the same time the cost of evil will be high, because of its evil behavior will be recorded forever;
- It is decentralized to avoid the impact of the Center of factors. `
Not only can play the advantages of smart contract in terms of cost efficiency, and to avoid interference with contract malicious behavior normal execution of contracts based on intelligent block chain technology. Write smart contract digitized form block chain, the characteristics of the storage block chain protection technology, read, execute the whole process may be transparent to track, can not change the grip. At the same time, constructed from the consensus algorithm block chain carrying a set of system state, such that the smart contract to operate efficiently.
Third, intelligent principle contract
Intelligent contract system according to the trigger event description information contained in, when the trigger conditions are met, the contract is automatically sent from the intelligent preset data resources and events including trigger conditions;
The core of the intelligent contract system is that smart contract by way of a transaction and event handling through intelligent contract module, go out or a set of transactions and events; intelligent contract just one transaction processing module and state agencies into the system, it does not produce intelligent contracts , it will not modify the smart contract; it is there just to make a complex set of digitized commitment with trigger conditions can be in accordance with the will of the participants, proper execution. Based on intelligent building block chain of contracts and execution divided into the following steps:
- Multi-user to participate in the development of a smart contract;
- Contract diffusion and stored in the block chain through the P2P network;
- Intelligent building block chain contract automatically.
Fourth, the intelligent principle block chain contract
Contract-based intelligent block chain, including transaction processing and preservation mechanisms, as well as a complete state machine for receiving and processing a variety of intelligent contracts; and the state of preservation and processing transactions are completed on the block chain. The main transaction contains data to be transmitted; and the event is a description of these data. After the transaction, and event information passed intelligence contract, the resource status collection contract will be updated, and then triggering a state machine intelligence contracts judge. If the state machine triggers an automatic one or a few actions are met by the state machine automatically performs actions based on preset information to select the contract.
Intelligent contract system according to the trigger event description information contained in, when the trigger conditions are met, the contract is automatically sent from the intelligent preset data resources, including trigger conditions and events; the core of the intelligent system contract is that intelligence affairs and contracts to the way the event after contract processing intelligence module, go out or a set of transactions and events; intelligent contract just one transaction processing module and state agencies into the system, it does not produce intelligent contracts, it will not modify the smart contract; it is there only to let a complex set of digitized commitment with trigger conditions can be in accordance with the will of the participants, proper execution.
Not only can play the advantages of smart contract in terms of cost efficiency, and to avoid interference with contract malicious behavior normal execution of contracts based on intelligent block chain technology. Write smart contract digitized form block chain, the characteristics of the storage block chain protection technology, read, execute the whole process may be transparent to track, can not change the grip. At the same time, constructed from the consensus algorithm block chain carrying a set of system state, such that the smart contract to operate efficiently.
references
Principles and Applications of block chain intelligent technology contract
Dependable Public Ledger for Policy Compliance, a Blockchain Based Approach