Remix.run Logo
nrhrjrjrjtntbt 6 hours ago

The pure (if you like) smart contacts do transactions. You give me 100 apple tokens and I give you 50 pear tokens. The contract ensures nothing else can happen.

They get more sophisticated e.g. automatic market makers. But same idea just swapping.

Voting is also possible e.g. release funds if there is a quorom. Who to release them to could be hard coded or part of the vote.

For external info from the real world e.g. "who got elected" you need an oracle. I.e. you trust someone not to lie and not to get hacked. You can fix the "someone" to a specific address but you still need to trust them.

wildzzz 6 hours ago | parent [-]

That's a great explanation. I'm sure it's a lot deeper than that but I've never really understood the purpose. I'm not a crypto guy at all so it's nice hearing real world applications rather than just "stock market babble".

packetlost 3 hours ago | parent [-]

Smart contracts are actually pretty cool, but the entire ecosystem is made dramatically worse by the tokens having speculative value. It’s necessary for the economics to work out, but it dampens the coolness of the technical aspects because it attracts sleazeballs and enables fraud/crime.