- Ethereum

Ethereum Q&A: How do smart contracts work?

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How do smart contracts in Ethereum work? How are operations conducted without middlemen? Do smart contracts work with external inputs or real-world events? Can we make sure that oracles are not corrupted?

These questions are from the MOOC 10.6 session, which took place on October 11th 2018. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

Note: Apologies for the colour glitch towards the…

22 thoughts on “Ethereum Q&A: How do smart contracts work?

  1. come on man! I am already unsubscribing! It's just another NWO agenda… cut it out! I could never dowload a node up to date! Ever! Never! Not ever!! Cut the bs!!

  2. Superb summary. It seems pretty obvious that once you decide to implement SC, all of its components has to be subsequently implemented in a decentralised fashion to ensure verifiable trust. 🙂

  3. So which application is best for it? None for the foreseeable future? I'm left with the impression even that's a generous statement, as apparently smart contracts are suited to automate all those things we really don't want automated.

  4. 1. Will the multiplication of smart contracts slow down the validation of transactions? I mean, in the case of bitcoin, we face problems of scalability for the validation of transactions only. Wouldn't we face a huge issue if all nodes have to run thousands or millions of programs (smart contracts) on top of it?

    2. If we continue the example of the insurance fraud, how do we prevent people from tampering with the sensors recording the rainfall? If someone corrupts the code run by sensors, then we still end up with a way to send incorrect information to the nodes.
    Aren't we just moving the problem of trust instead of solving it? Will we not need a single party to trust (regulator, auditor…) in order to ensure that code is written in a proper way and that devices are secure?

    Thank you for the video. And to anyone taking the time to read and answer these genuine questions, Thank you too.

  5. SIGH it's going to take a long time for useable offchain-data-integrated smart contracts to become useful. I just wish there were some legitimate decentralized oracle projects out there, instead of scams like Mobius and Chainlink.

  6. Ethereum is already dead. The only thing that Vitalik and co. are doin is the so called HIT AND TRIAL hoping it would finally click and work and they might finally build a world's super computer. Ethereum wasnt developed to scale from d scratch. Ethereum was built too early widout strong foundations. Those who arnt able to see the consensuschange from PoW to PoS are literally FANBOYS.

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