From 32510cc3cb2a4ae5a038a5d5148ab55ce145d014 Mon Sep 17 00:00:00 2001 From: dillon Date: Thu, 15 Nov 2018 02:29:15 -0500 Subject: [PATCH] Improving description of smart contracts (#21696) --- guide/english/blockchain/smart-contracts/index.md | 13 +++++-------- 1 file changed, 5 insertions(+), 8 deletions(-) diff --git a/guide/english/blockchain/smart-contracts/index.md b/guide/english/blockchain/smart-contracts/index.md index 19e8a277ce..0d9097b6ea 100644 --- a/guide/english/blockchain/smart-contracts/index.md +++ b/guide/english/blockchain/smart-contracts/index.md @@ -3,17 +3,13 @@ title: Smart Contracts --- ## Smart Contracts -Transactions in a blockchain are a very basic contract - One party sends resources to another. -In the Ethereum blockchain, transactions can support any kind of logic. They have the expressive -power of a Turing-Complete machine - meaning they can be steps for a task that a computer can do. +Cryptocurrency transactions that occur on a blockchain are an example of a very basic contract: one party sends money to another. However, blockchains also have the potential to manage and execute more complicated contracts. On the Ethereum blockchain, for example, one can utilize _smart contracts_ — blocks of code that only execute when their conditions are met. Smart contracts are Turing-Complete and as decentralized as the monetary transactions that occur on the blockchain. The combination of decentralized programs and money make for interesting possibilities. -As a piece of code that sits on the blockchain, a smart contract can automate tasks. -When an account receives money it can automatically distribute it to others. -This is entirely transparent so all the nodes(miners) can see what logic is being executed. +As a piece of code that sits on the blockchain, a smart contract can automate tasks in a decentralized and transparent manner. Examples of this include managing the process of recieving and distributing micro-payments for viewing ads (such as with the Basic Attention Token) and managing buy/sell order books for exchanges transparently (such as with the 0x project). ## Applications of Smart Contacts -Smart Contracts allows the transfer of goods and services without the need for a independent third part. Logic and rules are built into the smart contract that define the permissions and processes associated with a particular agreement and enforce the obligations attached to it. This provides an opportunity to remove middlemen that are traditionally required to interact with physical property or financial service instruments. +Smart Contracts allows the transfer of goods and services without the need for a independent third party. Logic and rules are built into the smart contract that define the permissions and processes associated with a particular agreement and enforce the obligations attached to it. This provides an opportunity to remove middlemen that are traditionally required to interact with physical property or financial service instruments. ## Blockchain Technologies @@ -35,4 +31,5 @@ contract Hello { } } ``` -Pulled from https://medium.com/coinmonks/how-to-write-a-simple-smart-contract-25f6d3c1d6db + +Pulled from [Medium - How to Write a Simple Smart Contract](https://medium.com/coinmonks/how-to-write-a-simple-smart-contract-25f6d3c1d6db).